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The Australian beverage company "Foster's Group Limited" (FGL) with headquarters in Melbourne was founded in 1886 by the brothers William and Ralph Foster from New York. They owned a refrigeration plant which was necessary for the production of beer. Just one year later they sold the company again and returned to the United States. The Australian breweries Carlton, Castlemaine, Foster's, McCracken, Shamrock and Victoria formed a cartel called the Society of Melbourne Brewers in 1903. Four years later, these companies merged under the name "Carlton & United Breweries" (CUB). This group went public in 1913. Many more breweries were subsequently incorporated. Finally, in 1983 "CUB" was taken over by the "Elders IXL" conglomerate and was now called "Elders Brewing Group". In 1990 the name was changed to "Foster's Brewing Group". The name referred to the internationally most successful product "Foster's Lager" which was exported to 150 countries. The current name "Foster's Group" was decided in 2004. The product portfolio includes beers (50 brands), spirits, ciders, dessert wines, wines and soft drinks.

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