AUS: Foster’s sells former CUB brewery site
Foster's Group has recouped over A$200m from the sale of a brewery site in Australia.
The drinks company confirmed today (12 June) that it has signed a sale agreement with Frasers Property for the site of the former Kent Brewery in Sydney for A$208m (US$175m). The site, the former home of the Tooth and Co. and Carlton & United Breweries, was built on Blackwattle Creek in 1835. The brewery ceased operation in early 2005.
"This is a great outcome for Foster's, Frasers Property and the city of Sydney," said Foster's CEO Trevor O'Hoy. "It represents an opportunity for a new lease of life for this 160-year-old brewery site - while preserving its significant local heritage."
The sale is expected to close by the end of this month.
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