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UK: S&N closes Foster’s buy-out

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Scottish & Newcastle has completed its acquisition of the Foster's brand in Europe, the Russian Federation and other countries in the CIS from Foster's Group.

The purchase was initially announced on 11 April, when the two companies agreed the sale for US$539m. S&N has held the licence on the Foster's brand in the UK, Ireland and parts of Europe since 1995, paying Foster's Group, the brand's owner, annual royalties, which last year amounted to GBP15m.

S&N said yesterday (17 May) that it has received confirmation from the Australian Treasurer that the acquisition has been approved and is now complete.


Sectors: Beer & cider

Companies: Scottish & Newcastle

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