E-Malt.com News article: Australia: Foster's extends Corona license agreement

Foster's Group Limited (FGL) and Grupo Modelo have agreed to extend the exclusive license for Foster's to sell and market the Corona Extra brand in Australia, Live News reported January 17.

The Australian beer company said the Corona Extra brand is Australia's No.1 imported premium beer and the ninth largest beer brand by value. Foster's said it had that over the twelve months to November 2007, Corona Extra has grown sales volume by 39.6% and now holds 30.4% volume share of the premium imported beer segment.

Foster's Australia, Asia & Pacific managing director Jamie Odell said the brand is an important part of Foster's beer portfolio and the agreement builds on a 19-year partnership with Grupo Modelo.

"We look forward to further strengthening Corona's position as the leading imported premium beer in Australia," Mr Odell said.

Roberto S Viejo, Grupo Modelo's managing director Latin America & Australasia said the agreement continues the ongoing relationship between Mexico's largest brewer and Foster's.

"The extended partnership with Foster's is a fantastic outcome for Corona Extra and we look forward to growing the brand even further in the Australian market," Mr Viejo said.

Some analysts say expected growth in Australian wine and beer pricing could see Foster's report a 1H net profit of close to AU$400 million on February 19.


18 January, 2008