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Foster's Beer Group is an Australian Beer group with interests in brewing and soft drinks. Foster's Beer Group Limited was based in Melbourne, Victoria and was renamed Carlton & United Breweries before the sale to British-South African multinational SABMiller. Foster's Beer Group was the brewer of the Foster's Lager. Foster's wine industry was, split into a separate company, Treasury Wine Estates, in May 2011.
Foster's Beer Group imports, licenses, and classifies a large number of brands. In Australia, Foster's Beer distributes the Cinzano, Perrier, Skyy Vodka, Stella Artois, and 42 Below import brands among many others. While in the US and Canadian markets, Molson brews and sells Foster's Lager under license.
In August 2008, it was convicted and fined more than $1-million for two breaches of Victoria's Occupational Health and Safety Act which led to the death of a worker in 2006. The prosecution of the business by the Director of Public Prosecutions for WorkSafe Victoria occurred in a call for the company to better report on health and safety in its Annual Report.
CEO Trevor O'Hoy quit on 10 June 2008 after the poor performance by the wine division of the group. O'Hoy was replaced by Ian Johnston on 21 July 2008 in the position of acting CEO.
Foster's Beer announced yearly results which ended on 30 June 2009. The net sales revenue increases by 2.7% to $4.5 billion. Net profit increases by 4.0% to $741.5m and earnings per share increases by 4.6% to 38.5 cents.
In 2011, Fosters made significant losses that including a write-down of the value of the wines division to Australian Dollars $1.8 billion that at the companies AGM in Melbourne on 29 April 2011, 99% of Fosters Beer Group shareholders agreed to split the Fosters Beer Group company into two separate brewing and Wines companies. The wines business became Treasury Wine Estates and were, listed on the ASX on 10 May 2011. In a late August 2011 conference, the Carlton United Group (Foster's beer division) announced that they would be focusing more on Craft Beer to meet the change in taste of the Australian drinker.
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