AUSTRALIA: Foster's looks to expand into WA wineries
Following its $2.9bn acquisition of Beringer Wine Estates last year, brewing giant Foster's is now keen to play a part in the Western Australia's (WA) Margaret River wine industry.
Foster's Group chief executive, Ted Kunkel told Australian press that he has a great respect for Margaret River wines. "We would love to be part of this world in terms of wines, but we think at the moment people have some elevated expectation of values. It's not critical (to be in Margaret River) but it is desirable," he told local press.
Declining to comment that Foster's was or had been in discussions with any producer in the Margaret River region, Kunkel continued to say that the company was open-minded about its vision for a WA wine investment and said its preferred plan was to work with the operator, a strategy that had served the group well in the past.
Wine: The International Market
Companies: Foster’s Group Ltd
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