FOSTER’S GIVES UP ASIAN BUSINESSES
In the past two months, Foster’s has relinquished its European brands and Chinese assets to Scottish & Newcastle and Japan’s Suntory Ltd.et, on top of selling wineries. This week the company announced its withdrawal from brewing in Asia by selling its businesses in India and Vietnam to SABMiller ($120 million) and Asia Pacific Breweries ($105 million).
Meanwhile, Foster’s is still looking for a buyer to purchase Rosemount Estate of Denman. "Nothing has happened as yet and to date I have not heard of any interested parties for the estate," said Foster’s brand communications manager, Sarah Thomas, to a local newspaper.
"The flow on effect from job losses and its impact on the business houses and farming community will be felt for some time to come," said Denman Chamber of Commerce president, Julie Newton.
Nevertheless, Foster's has promised to provide information and support for employees during the transition and is “optimistic” for the winery's future under a new owner.
Meanwhile, Foster’s is still looking for a buyer to purchase Rosemount Estate of Denman. "Nothing has happened as yet and to date I have not heard of any interested parties for the estate," said Foster’s brand communications manager, Sarah Thomas, to a local newspaper.
"The flow on effect from job losses and its impact on the business houses and farming community will be felt for some time to come," said Denman Chamber of Commerce president, Julie Newton.
Nevertheless, Foster's has promised to provide information and support for employees during the transition and is “optimistic” for the winery's future under a new owner.
posted at 2:58 PM
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