Registered in Victoria in 1907. The company was formed following the amalgamation of the following Breweries: Carlton Brewery Ltd; McCrackens' Ltd; City Brewery Ltd; City Brewery Ltd; Victoria; Castlemaine Brewery Company; Melbourne, Ltd; Shamrock Brewery and Malting Co (Collingwood) Ltd; Foster Brewing Co Ltd

The company was subsequently listed on the stock exchange in 1913.

In 1925 the company acquired Geelong Brewery; Fitzgerald's Brewing and Malting Co.; Victorian Brewery Co Ltd, Bendigo; and Melbourne Co-operative Brewery Co Ltd.

Over subsequent years the following companies were taken over a number of other brewing companies:
1931 Northern Australian Breweries Ltd
1958 Ballarat Brewing Co [brewing interests only]
1961 Queensland Brewery Ltd
1961 Rockhampton based Thos McLauchlin & Co Pty Ltd
1962 Richmond Brewery

In 1983 the company merged with Elders IXL and subsequently took over Tooth and Co.