E-Malt.com News article: UK: SABMiller acquires London-based craft brewer Meantime

SABMiller plc, the world's second-largest brewer has decided to buy a piece of the UK craft beer market, with the acquisition of London-based company Meantime Brewing, The Telegraph reported on May 15.

SABMiller said the acquisition gave it "an entry point into the fastest-growing segment of the UK beer market" and would complement its Peroni and Pilsner offerings.

The international drinks giant said that it planned to expand Meantime's sales nationally and export its brews to European markets. Nick Miller, CEO of Meantime, will continue to lead the company, which producers London Pale Ale and London Lager.

Sue Clark, managing director of SABMiller Europe, said: "Nick Miller, Alastair Hook and their team have built a strong sense of pride and identity within Meantime, which has an excellent reputation for brewing consistently high quality beers and for industry-leading innovation."

"This expertise will boost our strategy to develop beers that appeal to more people, including women, and which can be attractive alternatives to wine and spirits," she added.

The announcement came in the same week that SABMiller's chief executive, admitted that lager marketing had often been "insulting" to women.

The FTSE 100 chief said that industry advertising "for many years was either dismissive of, or insulting to, women”.
It had often been associated “with groups of young men... and with a high volume of consumption”, he said. Women were “either not present at all or entered as the butt of a joke”, Mr Clark added.

Mr Miller said: "I can say from personal experience, that SABMiller is a great company to be joining forces with. They see the opportunity, and believe in the longevity, of modern craft beer in the UK."

"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," he added.

Meantime's beer sales by volume grew by 58pc in 2014, outstripping the wider UK market's growth of 1pc in the same period.

Mr Clark said on May 13 that SABMiller would "continue to invest in our brands, including reinvigorating our high-volume core lagers so they remain relevant for today's millennial consumers".

He also said that the company would attempt to broaden beer's appeal "so it's the drink of choice for more people on a greater variety of occasions".

The acquisition of Meantime is expected to complete in early June 2015.


15 May, 2015