SABMiller is buying Britain's Meantime Brewing Company, swallowing up one of the pioneers of the country's craft brewing movement 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 drinkers seek new tastes and support niche, local suppliers.

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

However, some supporters of craft beer say brands such as Meantime risk losing their appeal if they sell out to a global brewer.

– (Reuters)