The deal gives CCA an 89.6% shareholding in Foster’s Group Pacific Limited (FGPL) and control of the Fijian and Samoan facilities, CCA announced today (7 September). CCA said it does not intend to buy the remaining stake in FGPL, with any future bids for the minority share subject to approval by Fiji's central bank.
Today's announcement follows SABMiller's takeover of Foster's last year, which gave CCA, which operated which operated a beer JV partne with SABMiller, the right to acquire Foster's Australian spirits and non-alcoholic beverages operations and the Fijian and Samoan plants. In March, CCA turned down the chance to buy Foster's Australian spirits business.
The firm said it will invest AUD15m in the Pacific Island facilities, which produce Fiji Bitter beer and Bounty Rum.
CCA Group MD Terry Davis said Fiji Bitter and Bounty Rum are “Fijian icons”, with the potential to become high-quality export brands with a global market.
“We are not new to Fiji,” Davis said. “We have operated a successful non-alcoholic beverages business in Fiji since 1993 and fully understand the great potential of ‘Brand Fiji'.
Davis added that the acquisition will complement CCA’s strategy in the Pacific and New Zealand, where the company has “multi-year distribution agreements” with Grupo Modelo, Carlsberg and Molson Coors, including a ten-year agreement with Beam Inc.
Last month, CCA lined up its return to brewing in Australia with a proposed JV with Casella Wines.
