SABMiller snaps up British craft beer rival

Brewing giant, SABMiller is buying Britain’s Meantime Brewing Company, snapping up one of the pioneers of craft brewing to give the owner of big brands such as Peroni and Grolsch exposure to a fast-growing part of the drinks market.

A surge in demand for craft beers in recent years has stolen market share from the world’s two biggest brewers, SABMiller and Anheuser-Busch InBev, as consumers seek a more authentic taste and support niche, local suppliers.

Sales volumes of Meantime’s beers — including London Pale Ale and London Lager — soared 58% in 2014, compared with a 1% rise in Britain’s beer market as a whole.