Foster's Group and Grupo Modelo have extended their exclusive license for Foster's to sell and market the Corona Extra brand in Australia.

The companies said today (17 January) that the agreement, which builds on a 19-year partnership with Modelo, will help to strengthen and grow the Mexican export beer brand in the country.

Over the year to November 2007, Corona Extra has grown sales volume 39.6% and now holds 30.4% volume share of the premium imported beer segment, the companies said.

Foster's Australia, Asia & Pacific managing director, Jamie Odell, said: "Corona Extra is an important part of Foster's beer portfolio and we're delighted to extend our partnership with Grupo Modelo. We look forward to further strengthening Corona's position as the leading imported premium beer in Australia."

Grupo Modelo's managing director of Latin America & Australasia, Roberto S Viejo, added: "The agreement cements an ongoing relationship between Mexico's largest brewer and Foster's, which spans 19 years. 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."

Full terms of the agreement were not disclosed.