SABMiller reveals Australian targets for Foster’s
Foster’s new chief Ari Mervis told investors this week that SABMiller, which acquired the Australian brewer in December last year, plans to make Foster’s the biggest selling brewer in Australia.
Foster’s beer sales fell 4.5 per cent in Australia during the six months leading to December 2011.
Speaking at an investors’ meeting this week in London, Mr Mervis, said SABMiller intends for Foster’s to increase its Australian sales by between one and three per cent each year over the next five years.
Mr Mervis said that improved consumer confidence in Australia over the coming year would help drive sales. He also said the brewer is expecting its profit to grow 0.6 per cent to 0.8 per cent each year over the next five years.
Iconic Abbotsfield plant to remain open
Mr Mervis, who is also managing director of SABMiller’s Asia Pacific arm, also told investors that Foster’s will not be closing any of its plants, including its iconic Carlton and United Breweries plant in Abbotsfield, Victoria.
The announcement follows rumours late last year when SABMiller took over Foster’s that the plant would be closed and the land sold to property developers to help SABMiller fund the acquisition.