The Australian distributorship for Australia’s most popular imported Japanese beer has been lost by Foster’s. The Japanese Asahi Group has appointed its own Australian subsidiary company Independent Distillers to market and distribute Asahi beer through the premium beverages division of Independent Distillers. As reported by Australian Food News in late 2011, Foster’s was taken over by South African beer giant SABMiller and subsequently also lost Australian distribution rights for another international... ...Read more »

The  Victorian regional city Ballarat will be the place many Australians will be on Saturday, January 21 2012 as they sample craft beers from all over Victoria plus a few more. The one-day Ballarat Beer Festival  extravaganza will be showcasing  a multitude of craft beers from some of Victoria’s  world-class microbreweries. Amongst them will be beers from : Bridge Road Brewers; Broo Lager; Buckleys Beer; Coldwater Creek; The Good Brew Co; Hawthorn Brewing; Holgate Brew House; King Street Brewhouse;... ...Read more »

The Australian Federal Treasurer today approved SABMiller’s acquisition of Australian brewer Foster’s and the remaining 50% of Pacific Beverages, on recommendation from the Foreign Investment Review Board (FIRB). The Treasurer’s approval of the transaction marks the final regulatory condition to be satisfied ahead of the shareholder vote at the upcoming scheme meeting scheduled for 1 December 2011. In a statement released today, SABMiller said the acquisition is expected to be completed... ...Read more »

Coca-Cola Amatil’s Managing Director Terry Davis has indicated that the company is considering buying the spirits, ready-to-drink mixed spirits and non-alcoholic brands of Australian brewer Foster’s Group Limited. Mr Davis made the announcement at a meeting of the American Chamber of Commerce in Australia, held in Melbourne. The brands in questions include Foster’s Cascade brand of soft drinks, its Cougar and Black Douglas spirit brands, as well as its Fiji brewery and distillery. However,... ...Read more »

The Australian Competition and Consumer Commission yesterday announced that it will not oppose the acquisition of the iconic Australian Foster’s Group by SABMiller. According to ACCC chairman Rod Sims “the proposed acquisition is not likely to result in a substantial lessening of competition for the supply of beer”.  Before reaching this conclusion, the ACCC carried out a comprehensive review, involving market inquiries with a range of interested parties in the beer industry. UK company SABMiller... ...Read more »

Multi-national brewer SABMiller has agreed with Foster’s Group Limited a recommended cash offer to Foster’s shareholders at A$5.10 per share, which values Foster’s equity at approximately A$9.9 billion. The agreement is the culmination of a long-running series of negotiations between the two companies, with SABMiller recently mounting pressure on the Australian brewer. As part of the transaction, Foster’s will pay its shareholders a return of capital of A$0.30 per share prior... ...Read more »

Australian brewer Foster’s has urged its shareholders to reject a bid from takeover suitor SABMiller. The Foster’s Board believes the offer “significantly undervalues” the company and has written to shareholders asking them to spurn SABMiller’s offer to buy all the shares in the company at a price of $4.90 per share. In a letter sent to shareholders today, Foster’s chairman David Crawford wrote, “Your board unanimously recommends you reject SABMiller’s... ...Read more »

The Federal Government’s Takeovers Panel has rejected accusations from multinational brewer SABMiller that statements published in Foster’s Group Limited’s full year results were “misleading” and “deceptive”. SABMiller’s submission to the Takeovers Panel had raised issues about certain forward-looking financial statements and a pro forma net debt in the Foster’s results presentation. On 17 August 2011, SABMiller announced that it intended to make a conditional off-market takeover... ...Read more »

Multinational brewer SABMiller has accused Australian brewing giant Foster’s Group Limited of making “misleading” and “deceptive” statements in its recently published end-of-year results. It is the latest clash between the two breweries, with SABMiller continuing its drive to purchase Foster’s Group Limited. In a submission to Federal Government’s Takeovers Panel, SABMiller accuses Foster’s of having “no reasonable basis for several forward-looking statements” in the results presentation... ...Read more »

In its latest move to fend off a takeover bid by multinational brewer SABMiller, Australian brewing giant Foster’s Group Limited plans to return A$500 million to its shareholders through a share buyback or capital reduction. As well as announcing the buyback bid, Foster’s today released its full year results which show an 8.7 per cent fall in profit and a net loss of A$89 million for the year to June 30 2011. A strong credit profile and proceeds from the Ashwick tax case have led the Foster’s... ...Read more »