Carlton & United Breweries

Carlton & United Breweries (CUB) is an Australian brewing company based in Melbourne and now owned by Japan's Asahi Group Holdings through Asahi Beverages. It is one of the country's most significant brewing businesses, with a portfolio spanning mainstream lager, premium beer, craft-oriented products, cider, spirits and other alcoholic beverages. Its best-known brands include Victoria Bitter, Carlton Draught, Foster's Lager, Great Northern, Resch's, Pure Blonde and Melbourne Bitter. The company originated in 1904 when six Melbourne breweries combined: Carlton Brewery, Castlemaine Brewery Company (Melbourne), Foster Brewing Company, McCracken's City Brewery, Shamrock Brewing and Malting Company, and Victoria Brewery. The combination followed the formation of the Society of Melbourne Brewers, a brewing cartel established in 1903. Emil Resch played an important role in bringing the breweries together and became CUB's first general manager, while Carl Pinschof served as chairman. CUB became a public company in 1913. Its expansion initially centred on consolidation within Victoria. In 1924 it acquired Abbotsford Co-operative Brewery, which had been established by independent hoteliers in opposition to the Melbourne brewers' concentrated market power. In 1931 CUB made its first major interstate expansion by acquiring Northern Australian Breweries and Cairns Brewery. Further acquisitions brought breweries and brands in several Australian states into the group, including Ballarat Brewing Company, Queensland Brewery, Thos McLauchlin, Richmond Brewery and Tooth & Co. CUB became part of a much larger corporate structure in 1983, when Elders IXL acquired the company. The brewing division continued to expand internationally, acquiring brewing interests in the United Kingdom, Canada and the United States. In 1990 Elders IXL changed its name to Foster's Group, reflecting the international recognition of Foster's Lager. CUB subsequently operated within Foster's broader beverage portfolio. The company temporarily adopted the name Carlton & United Beverages in 2004 as Foster's pursued a wider range of premixed drinks, juices, cider and non-alcoholic beverages. In 2009 the Australian beer, cider and spirits division was separated from the Australian wine division and restored the Carlton & United Breweries name. Ownership changed again in 2011 when SABMiller acquired Foster's Group. CUB became part of SABMiller's international brewing network and distributed a number of global brands in Australia. In 2016 SABMiller was acquired by Anheuser-Busch InBev, making CUB an ABI subsidiary. Asahi agreed to purchase CUB in 2019, and the transaction was completed in 2020 after Australian regulatory approvals. Asahi subsequently announced the combination of CUB and Asahi Premium Beverages into Carlton Premium Beverages. CUB therefore remains an important Australian operating business within Asahi's beverage group, even though its ownership and corporate structure have changed repeatedly.

Carlton & United Breweries was formed in Melbourne in 1904 through the merger of six breweries: Carlton Brewery, Castlemaine Brewery Company (Melbourne), Foster Brewing Company, McCracken's City Brewery, Shamrock Brewing and Malting Company, and Victoria Brewery. The merger followed the creation of the Society of Melbourne Brewers in 1903, a cartel that brought together the principal Melbourne breweries. Emil Resch was influential in enabling the amalgamation and became the new company's first general manager. Carl Pinschof served as chairman. CUB issued 100,000 shares when it became a public company in 1913. The business expanded through acquisitions. In 1924 it purchased Abbotsford Co-operative Brewery, which had been created by independent hoteliers seeking an alternative to the concentrated structure of the Melbourne brewing market. CUB moved beyond Victoria in 1931 by acquiring Northern Australian Breweries and Cairns Brewery. Later purchases included Ballarat Brewing Company, Queensland Brewery, Thos McLauchlin, Richmond Brewery and Tooth & Co. This program helped establish CUB as a national rather than purely Victorian brewer. CUB also developed a substantial Sydney presence. In 1985 it acquired the Tooth and Co. site on Broadway and demolished most of the former Kent Brewery buildings. The brewery closed in 2003 as the surrounding area underwent a major shift from industrial use toward residential and mixed-use development. The site was sold in 2007 and later became part of the Central Park precinct, incorporating commercial, retail, hotel and refurbished heritage brewery elements. In 1983 Elders IXL acquired CUB outright. The brewing division, later known as Elders Brewing Group, expanded into overseas markets including the United Kingdom, Canada and the United States. Elders IXL adopted the Foster's Group name in 1990, associating the corporate identity with its internationally recognised Foster's Lager brand. CUB operated within Foster's until the group changed the brewing business's name to Carlton & United Beverages in July 2004. The change acknowledged the company's diversification into premixed alcoholic drinks, juices, cider and non-alcoholic beverages while preserving the CUB acronym. A 2009 restructuring separated Foster's Australian wine division from its Australian beer, cider and spirits operations. The latter division was renamed Carlton & United Breweries. In December 2011 Foster's Group was acquired by SABMiller, which thereby took control of CUB. CUB later became part of Anheuser-Busch InBev when ABI acquired SABMiller in October 2016. The transaction ended SABMiller's existence as an independently traded global brewer. CUB attracted labour-relations controversy in 2016 after announcing that 55 maintenance workers, mainly electricians and fitters, would lose their positions and could reapply through a replacement contractor under materially worse terms. Unions argued that the arrangement effectively transferred the work while reducing wages and conditions. The dispute generated public criticism, online campaigning and support actions from some Victorian pubs that stopped selling CUB products. SABMiller stated that the relevant contractual relationship was with a subcontractor rather than directly with the maintenance employees. In July 2019 Asahi Breweries agreed to acquire CUB from Anheuser-Busch InBev. The Australian Competition and Consumer Commission and Foreign Investment Review Board approved the deal in May 2020, after which the acquisition was completed. Asahi Beverages subsequently announced plans to combine CUB with Asahi Premium Beverages as Carlton Premium Beverages. CUB's historical brands and brewing operations consequently became part of Asahi's Australian beverage platform.

1. 2020Asahi completes the acquisition

   The acquisition was completed following Australian competition and foreign-investment approvals.

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2. 2019Asahi agrees to acquire CUB

   Asahi Breweries agreed terms to purchase CUB from Anheuser-Busch InBev.

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3. 2016CUB enters the Anheuser-Busch InBev group

   Anheuser-Busch InBev completed its acquisition of SABMiller, including CUB.

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4. 2011SABMiller takes ownership

   SABMiller acquired Foster's Group and became CUB's owner.

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5. 2009Brewing division resumes the CUB name

   Following the separation of Australian wine operations, the beer, cider and spirits division was renamed Carlton & United Breweries.

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6. 2004Name changes to Carlton & United Beverages

   The business temporarily adopted Carlton & United Beverages to reflect diversification beyond beer.

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7. 2003Broadway brewery closes

   CUB closed the former Tooth and Co. Broadway brewery in Sydney amid the area's transition from industrial to mixed-use development.

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8. 1990Elders IXL becomes Foster's Group

   The parent group adopted the Foster's Group name, while CUB continued as its Australian brewing business.

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9. 1983Elders IXL acquires CUB

   CUB became a wholly owned subsidiary of the diversified Australian conglomerate Elders IXL and was delisted.

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10. 1931CUB expands interstate

    The company acquired Northern Australian Breweries and Cairns Brewery, its first major expansion outside Victoria.

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11. 1924Abbotsford Co-operative Brewery is acquired

    CUB expanded its Victorian brewing base by acquiring Abbotsford Co-operative Brewery.

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12. 1913CUB becomes a public company

    The company became public through an issue of 100,000 shares.

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13. 1904Carlton & United Breweries is established

    Six major Melbourne breweries merged to create Carlton & United Breweries.

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14. 1903Society of Melbourne Brewers is formed

    Eight breweries, including the six that later merged into CUB, formed a Melbourne brewing cartel that preceded the company's creation.

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A broad-market Australian brewer combining high-volume mainstream beer brands with premium, specialty, cider and other alcoholic beverage offerings.

• Victoria BitterMainstream beer

  A major Australian beer brand associated with CUB's high-volume mainstream portfolio. Victoria Bitter has long been one of the company's most recognisable offerings and is positioned around accessible lager consumption in the Australian market.

• Carlton DraughtMainstream beer

  A flagship Carlton-branded beer and one of CUB's best-known draught-style lager offerings. It represents the company's strong connection with Melbourne brewing and its broad distribution through pubs, hospitality venues and retail channels.

• Foster's LagerLager

  An internationally recognised Australian lager brand that also influenced the identity of Foster's Group, the former parent of CUB. Foster's Lager remained part of the broader Australian brewing portfolio through successive changes in corporate ownership.

• Great NorthernMainstream beer

  A CUB beer brand included among the company's notable Australian offerings. It forms part of the brewer's contemporary mainstream range alongside established brands such as Victoria Bitter and Carlton Draught.

• Resch'sBeer

  A historic Australian beer brand associated with the country's brewing heritage and included in CUB's portfolio. The brand reflects CUB's long history of incorporating regional and formerly independent brewing businesses.

• Pure BlondePremium beer

  A beer brand within CUB's premium-oriented portfolio. It complements the company's mainstream lagers by addressing consumers seeking a lighter or more contemporary premium-beer proposition.

• Melbourne BitterBeer

  A Melbourne-associated beer brand included among CUB's notable offerings. Its name and heritage reinforce the company's historical identity as a brewer founded through the consolidation of Melbourne breweries.

• 2019Agree to sale to AsahiM&A

  CUB was owned by Anheuser-Busch InBev following ABI's acquisition of SABMiller.

  What changed. Asahi Breweries agreed to acquire Carlton & United Breweries, subject to Australian regulatory approvals.

  Aftermath. The transaction closed in 2020, and Asahi announced the combination of CUB with Asahi Premium Beverages as Carlton Premium Beverages.

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• 2009Separate wine from Australian beer, cider and spiritsStrategy

  Foster's reviewed the structure of its global wine business and Australian beverage operations.

  What changed. The Australian beer, cider and spirits division was separated from Australian wine and renamed Carlton & United Breweries.

  Aftermath. CUB continued as the Australian brewing and alcoholic-beverage business within Foster's until the 2011 SABMiller acquisition.

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• 2004Adopt the Carlton & United Beverages nameStrategy

  The business had expanded beyond traditional beer into premixed drinks, juices, cider and non-alcoholic beverages.

  What changed. It changed its name to Carlton & United Beverages while retaining the CUB acronym.

  Aftermath. The brewing division later returned to the Carlton & United Breweries name after Foster's separated its Australian wine business from beer, cider and spirits operations.

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• 2016Maintenance-worker outsourcing disputeControversy

  CUB's dismissal of 55 maintenance workers and invitation for them to reapply through another contractor on less favourable terms led to union condemnation, public criticism, social-media mobilisation and product boycotts by some Victorian pubs. Workers and unions characterised the arrangement as a way of transferring the work while cutting pay and conditions.

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• 2020Asahi completes acquisition of CUB

  The Asahi transaction was completed after clearance from the Australian Competition and Consumer Commission and the Foreign Investment Review Board.

  M&A
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• 2020Asahi combines CUB and Asahi Premium Beverages

  Asahi Beverages announced the combination of its Australian alcohol businesses, Carlton & United Breweries and Asahi Premium Beverages, into Carlton Premium Beverages.

  Other
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• 2019Asahi agrees to acquire Carlton & United Breweries

  Asahi Breweries agreed to purchase CUB from Anheuser-Busch InBev, subject to Australian regulatory and foreign-investment approvals.

  M&A
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• 2016Anheuser-Busch InBev completes acquisition of SABMiller

  CUB became part of Anheuser-Busch InBev after ABI completed its acquisition of SABMiller and SABMiller ceased trading as an independent listed company.

  M&A
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• 2011SABMiller acquires Foster's Group

  SABMiller acquired Foster's Group, bringing Carlton & United Breweries into the ownership of the global brewing company.

  M&A
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• 2009CUB separates its Australian wine and beer businesses

  Foster's announced the separation of its Australian wine activities from the Australian beer, cider and spirits division, which resumed the Carlton & United Breweries name.

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• 2004CUB changes its name to Carlton & United Beverages

  The Foster's brewing business adopted the Carlton & United Beverages name while retaining the CUB acronym, reflecting a portfolio that extended beyond beer into premixed drinks, juices, cider and non-alcoholic beverages.

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1. Carlton & United Breweries