Australia: SAB Miller loses Corona Extra

09 March, 2012
By Lucy Britner

SAB Miller's Australian subsidiary, Foster's Group will no longer be allowed to import and distribute Mexican beer Corona Extra. Foster's has been informed by Corona's parent company Grupo Modelo that it intends to terminate Foster's licence to import and distribute Corona Extra in Australia with immediate effect. The brand's distribution will go to Lion Nathan. 

The move follows SAB Miller's acquisition of Foster's in December 2011, through which Foster's gained access to SAB Miller's portfolio in Australia, including Peroni Nastro Azzurro, Peroni Legerra, Miller Genuine Draft, Grolsch Premium Lager, Bluetongue and Pilsner Urquell. 

According to SAB Miller, sales volumes of Corona Extra in the calendar year 2011 were approximately 600,000 hectolitres in a total Australian market of 18 million hectolitres.

SAB Miller said its expected financial returns from the acquisition of Foster's will remain "broadly unchanged" following this termination.

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