By James Atkinson
Brewing giant SABMiller has criticised the previous management of its new Foster's subsidiary for failing to properly implement beer sales and marketing fundamentals.
In an investor briefing last week, SABMiller head of investor relations, Gary Leibowitz outlined a three-pronged approach for the company to get value out of the acquisition.
He said SABMiller aimed to create "category value" in Foster's, through brand differentiation and marketing, and would also aim to boost its sales revenue by improving relationships with retailers.
"All of which may sound obvious but in our view had not been done for any significant length of time at Foster's," he said.
Leibowitz said SABMiller will also be focused on achieving synergies in production, distribution and fixed costs by consolidating the former Pacific Beverages brands, which joined the CUB business last month.
He was speaking as Coca-Cola Amatil CEO Terry Davis reiterated that the development of CCA's alcohol business remains a core growth strategy for the company following the termination of the Pacific Beverages joint venture.