Company Profile - Foster's
Parent Company: Heineken N.V., Molson Coors Canada Inc., AB (Anheuser-Busch) InBev SA/NV
Brand Value: $748 Mil.
Year Formed: 1889
William M. and Ralph R. Foster, Irish-American brothers from New York, arrived in Melbourne in 1886 and began brewing Foster's Lager in Collingwood in November, 1888, launching the brand to the public 3 months later. A year after launch, they sold the plant and returned to the U.S. after which its new owners continued production and distribution of the Foster’s brand for 112 years until 2002. Foster’s was introduced into the U.S. in 1972 branded as “Australian for Beer” (though in Australia it is known as “the Amber Nectar”. This iconic brand has been associated with the stereotypical imagery of kangaroos, heavy aussie accents, and cork hats. By 1977, Foster’s became the leading Australia’s leading brand. Building on its growing popularity, during the 1980’s the famous comedian Paul Hogan pitched the brand which coincided and leverated the success of his movie, Crocodile Dundee. Over the last few decade’s global industry consolidation, ownership of the Foster’s brand was split between Anheuser-Busch InBev SA/NV(Australia), Heineken N.V. (Europe), and Molson Coors Canada Inc. (USA). Today, Foster’s annual sales tops 500 megaliters globally (over $2.3 billion) and UK is its largest single market.