Unions worried that Foster’s new owner will close down Abbotsford brewery

What’s in a brewery? Only the value of the real estate. Given that Melbourne’s real estate prices have been soaring in recent years, any new owner of Foster’s might be tempted to close down Foster’s historic Abbotsford brewery (it’s located in a Melbourne suburb) and build a new brewery elsewhere. Abbotsford’s real estate is said to be valued at AUD 1 billion, whereas a new brewery could cost up to AUD 500 million. Sounds like Abbotsford’s fate is sealed.

No wonder unions are worried and have said that any foreign buyer of Foster’s should guarantee the historic Abbotsford Brewery stays open.

Their demand came only days after Foster’s had rejected a takeover bid by SABMiller, sparking fears among the 200-odd employees at Abbotsford that their jobs could be axed.

The union, United Voice, said any prospective buyer must respect the history of the Carlton and United Brewery, where the famous Victoria Bitter brand is made.

The bean counters will argue that history is a fine thing but a brewery is a factory after all and not a world heritage site. Should they have the last word, Abbotsford will face the wrecking balls.