News: Fosters extends exclusive Carlsberg beer li

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Foster's Group Ltd (ASX:FGL) has extended a long term exclusive license to sell and market Calsberg brands in Australia.

The beverages manufacturer says the new deal forms a multi-year agreement with Denmark's Carlton & United Breweries and Carlsberg Group and covers the Carlsberg and Carlsberg Elephant brands in Australia.

Carlton & United Breweries says the brand has delivered year on year volume growth of 28 per cent.

Foster's has marketed and distributed Carlsberg in Australia since 2007.

Earlier this week Foster's said plans to create separate stock exchange listings for its wine and beer businesses are progressing well.

The company also advised CEO Ian Johnson will step down from his role when the demeger is finalised, expected to be in the first half of 2011.

Foster's slipped from a profit of $442.7 million in 2009, to a loss of $463.4 million in the year to 30 June 2010.