Foster’s Australian brewing arm Carlton & United Breweries has bought Bulmer Australia, a wholly owned subsidiary of the UK based HP Bulmer, for $63m.

The deal includes ownership of the leading Australian cider brand Strongbow, Woodpecker, Devondale, Harvest and Zolensky brands in Australia and New Zealand.

CUB managing director Trevor O’Hoy said: “The acquisition enhances CUB’s strategy to achieve earnings growth via bolt-on acquisitions to supplement organic growth.

“CUB expects to drive synergy benefits and exploit brand growth opportunities through the company’s greater sales, marketing and distribution penetration.”

The acquisition is subject to HP Bulmer UK shareholder and Australian regulatory approvals.

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