AUSTRALIA: Foster's Restructures North American Beer Business for Growth
Foster's Brewing Group today announced it had signed new agreements with its North American partners, the Miller Brewing Company and Molson Inc. to deliver greater focus and growth opportunities for the Foster's brand in the US and Canada.Following the exit of Molson from the US distribution company, Molson USA, Foster's has negotiated a new joint venture partnership with Miller, to strengthen the marketing, sales and distribution of Foster's in the US.Under the terms of the new partnership, Foster's receives an increased equity holding in the restructured joint venture with Miller, to be known as Foster's USA LLC, in exchange for its interest in Molson trademarks in the US.The new joint venture agreement with Miller will deliver to Foster's:
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