4 Jul 2011

Foster's concentrates on existing businesses

1:22 pm on 4 July 2011

Australia's largest beer maker, Foster's, says its focus is on getting more out of its existing business after rebuffing a takeover offer from a South African rival.

Last month, Foster's turned down SABMiller's $A9.5 billion offer which came soon after the company's split its beer and wine divisions, the ABC reports.

Foster's chief executive John Pollaers says the company is not in talks with SABMiller, and he's concentrating on building its brands and reducing costs.

Mr Pollaers says he's not concerned by the customers increasingly varied choice of beer, saying Foster's still has a 50% share of the Australia market.

Mr Pollaers says Foster's has an enviable position in the fast-growing craft, international and domestic premium, new style, regular beers.