Australia's Foster's sees beer sector returning to growth

MELBOURNE Mon Oct 24, 2011 7:48pm EDT

MELBOURNE Oct 25 (Reuters) - Foster's Group Ltd said it expects the beer category will return to moderate growth once the current economic uncertainty passes, as Australia's largest brewer prepares to be taken over by SABMiller .

Foster's, maker of Victoria Bitter, Carlton Draught and Pure Blonde, said beer volume has declined in line with the rest of the local market, though there has been some improvement in consumer confidence in recent months.

In September, Foster's agreed to accept a sweetened A$10 billion ($10.4 billion) offer after a three-month battle by SABMiller to win over management. The A$5.10 per share offer was an A$0.20 per share increase on a previous bid.