Foster’s Group Ltd
(ASX:FGL) has signed long-term distribution agreements with The Charmer Sunbelt Group to sell its portfolio of wines in the US.
The company says the agreements mark the first phase of a US Route-to-Market initiative launched upon the completion of the Wine Strategic Review in February last year.
Under the deal, Foster’s Wine Estates (Americas) will give The Charmer Sunbelt Group the exclusive rights to sell its wines in New York, Maryland and the District of Columbia.
Foster’s Americas managing director Stephen Brauer says the wine deal is part of the brewer’s strategy to align with companies that share its growth vision.
Mr Brauer says Charmer Sunbelt has the capabilities to grow Foster’s core brands, build its luxury portfolio and increase its innovation in the market.
The agreements will become effective as of July 1.
Foster’s Group reported a profit of $438.3 million for the 2009 financial year.
