Meantime Brewing Company acquired by SABMiller

London Greenwich-based craft beer brewer the Meantime Brewing Company has accepted an offer from SABMiller to acquire the business.

This will make it the first British brewer within SABMiller's worldwide portfolio. The existing management team will continue to operate, reporting directly to Sue Clark, managing director, SABMiller Europe.

The acquisition will allow Meantime to introduce a new brewing facility at its Greenwich site, which will allow new product development, including within the current ranges, Meantime's Seasonal and Limited Edition. The company will also expand the existing Greenwich brewery and develop its core range across the UK, including beers London Pale Ale, London Lager, Yakima Red and Pilsner.

Nick Miller, chief executive officer at Meantime Brewing Company, said the acquisition was a "massive compliment", and that SABMiller had vowed to maintain the Meantime culture within its future plans. He added: "I am delighted that they have seen the opportunity and believe in the longevity of the modern craft beer category in the UK and beyond. SABMiller has a long track record in nurturing local-market beer businesses that are recognised and loved worldwide."

Miller was former managing director of Miller Brands, a subsidiary of SABMiller, before leaving to join Meantime in 2011.

Meantime was founded by now-"brew master" Alastair Hook, in a tramshed in 1999. Hook said he had always aimed to see his beers take the world stage.

He said: "When I started Meantime, I had a vision that British beer would one day become world-leading… This partnership means that we now have the opportunity to see that vision become a reality."

SABMiller is one of the world's largest brewing companies, alongside its soft drink businesses. It employs over 70,000 people in more than 80 countries, with brands including Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch; and local brands Aguila (Colombia), Castle (South Africa), Miller Lite (USA), Snow (China), and Victoria Bitter (Australia).

Miller Brands MD Nick Miller to become CEO at Meantime Brewing >>