US: Foster's signs Southern Wine & Spirits deal
Foster's hands portfolio to SWS
Foster's Group has completed its move to reorganise distribution of its wines in the US by signing five-year deals in three states with Southern Wine & Spirits of America.
The Beringer and Rosemount wine owner said late last week that Southern Wines & Spirits (SWS) will exclusively distribute its wine brands in California, Illinois and Florida.
SWS already distributes Foster’s wines in the states but has shared the portfolio with other distributors and Foster’s own self-distribution, said Foster's Wine Estates, the US-based subsidiary of Foster's Group.
The deals, effective from 1 July, complete Foster's' overhaul of US distribution agreements, which the group undertook in order to reinvigorate its performance in the country.
"We look forward to partnering with Foster’s to realise their route-to-market goals of sustainable brand growth, in-market execution and portfolio premiumisation,“ said Wayne Chaplin, president and chief operating office of SWS.
Foster's has also recently made changes to its executive sales team in the US, where write-down charges have damaged group profits over the last couple of years.
Separately, Foster's confirmed today (21 June) that it has withdrawn three vineyards and one winery from a list of non-core assets to be sold off.
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