LONDON: SAB Miller, the world’s second-biggest brewer, is muscling in on the British craft beer boom by buying London’s Meantime Brewing Company.
Meantime was founded in 1999 by brewer Alastair Hook in a flat in Greenwich and its most popular brews include London lager, London pale ale and London porter. It now operates from a modern brewery in Greenwich and has two pubs, the Greenwich Union and the Old Brewery bar.
SAB Miller said the deal would give it a toehold in the fastest growing part of the UK beer market. It plans to increase sales of Meantime beer in Britain beyond the brewer’s London base and is considering exporting to Europe.
Britain is in the midst of a craft brewing craze. Even as pubs close at a rate of about 30 a week, the number of breweries has increased by 10% over each of the past two years to more than 1,200 – the most since the 1940s. The surge is led by small operations making distinctive ales in and around London, Leeds and other major cities.The companies did not disclose the price SAB Miller will pay for Meantime.
Nick Miller, Meantime’s chief executive, and Hook will continue to run the business. They will receive funds to expand the Greenwich brewery and will also be in charge of a new product development facility to develop new beers for SAB Miller.
