SABMiller has announced plans to enter the craft beer sector, following the acquisition of British brewer Meantime for an undisclosed amount.
The London-based manufacturer of Grolsch, Peroni and Pilsner Urquell will acquire brands such as London Pale Ale and London Lager, buying its way into the fastest growing segment of the country’s beer market. Volume sales of Meantime’s products grew by nearly 60% during 2014, despite growth of only 1% in the overall beer sector.
SABMiller has said that it intends “to grow sales of Meantime’s beers nationally and explore export opportunities in its European markets under the continued leadership of Nick Miller”.
European managing director Sue Clark added: “Meantime has been at the forefront of the modern craft beer movement in the UK and brews an outstanding range of beers across a variety of styles. At SABMiller we love local variety, and carefully nurture our 200 local and heritage beers. Meantime, born in a city with a rich beer heritage, will be a special new addition to the SABMiller family.”
But fans of the brewer have expressed concern that SABMiller’s new approach to distribution may threaten Meantime’s craft credentials. “Your favourite craft beer was just bought out by a global corporation,” read The Independent’s headline on Friday morning.
Meantime CEO Nick Miller said: “SABMiller shares our passion for putting great beer first, and making, selling and marketing it responsibly to beer aficionados worldwide. The team at SABMiller have stressed how important our culture is to our success to date, and have a strong track record in retaining the special identities and heritage of the local businesses they’ve bought in the past.
“We are all excited about the opportunity to continue growing Meantime. We are also thrilled and flattered that SABMiller has given us a remit to innovate. This is a massive compliment and acknowledges our position as pioneers in modern craft beer.”
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