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Optimistic investment

Geraldine Panapasa
Friday, December 21, 2012

FOSTER'S Group Pacific Limited (FGPL) has changed its name to Paradise Beverages (Fiji) Limited following the successful completion of regulatory processes.

The name change, effective from December 11 this year, was a resolution passed and adopted at the company's annual general meeting on November 21.

Coca-Cola Amatil Limited (CCA) spokeswoman Sally Loane said Paradise Beverages was chosen because the new owner, CCA, wanted a name that would reflect the beautiful part of world — Fiji.

"The other reason was that it was inappropriate to continue the business under the name of a previous owner," she said.

"The name change reflects the new owner and a new direction. CCA is investing significantly in the business to ensure that it will grow and also to enable our ability to significantly increase export markets.

"We want to create Paradise Beverages as a hub of beer and rum production in the Pacific region."

Ms Loane said the only costs incurred for the name change were the standard costs associated with lodgement.

She said the most significant change was CCA's investment in capital to increase capacity and grow the company's export business.

"The main emphasis has been on growing the domestic market and this has been successful but has limited room for growth," she said.

"Under our new ownership and their investment in the business, we are busy developing new products and export markets."

Meanwhile, the company recently announced plans to release premium rum products into the export market.

It was also awarded the distribution of a number of international beers such as Corona, adding this marked great confidence in the capability of the new company.

CCA had obtained the right to acquire FGL's Fiji business early this year.

The right to buy the Fiji business followed the SABMiller purchase of FGL, the parent company of FGPL.

The majority shareholder of FGL by an Australian subsidiary of SABMiller had received notice from CCA confirming that it wished to proceed with the acquisition of the Fiji business (CCA acquisition).





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