AUS: Foster's finds the bottle to give wine tie-up the can
AUS: Foster's finds the bottle to give wine tie-up the can
Feb 15, 2011 6
FOSTER'S shareholders will emerge from the wreckage of the beverage group's disastrous push into wine with a stand-alone brewing arm facing a shrinking national beer market and a pure-play global wine operation showing the early signs of recovering from cyclical lows.The chief executive, Ian Johnston, said the conglomerate model had not worked for Foster's since it spent more than $6 billion picking up a portfolio of wine assets such as Mildara Blass, Southcorp and Beringer, and that the cultures and business surrounding beer and wine were not a good fit.
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