The Australian wine and beer company Foster's Group is considering dropping 'Foster's' from its name as it focuses on premium beverages, reports The Australian quoting news agencies.

Foster's Chief Executive Trevor O'Hoy, who is meeting investors in London, told FT that he wasn't keen on having brand names as corporate names and the company would probably opt for a more "generic" name.

"As we grow, the brand Foster's becomes less important to us," O'Hoy told the financial daily. Foster's expanded its wine operations with last year's purchase of Southcorp.

Britain's Scottish & Newcastle bought the Foster's brand in Europe for 309 million pounds in April, while SABMiller bought the brand in India for 64 million pounds. Singapore-based Asia Pacific Breweries, controlled by Heineken, has acquired the Vietnamese operations of Foster's.

The company, which describes itself as a "multi-beverage" business, now seeks to focus more closely on its wine business, which contributes 54% of total sales and 40% of profits.

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