Drinks giant, SABMiller has agreed to acquire Meantime Brewing Company, a London-based craft brewer.
The deal gives SABMiller a foothold in the 'fastest-growing segment of the UK beer market', the company said in a statement.
SABMiller plans to grow sales of Meantime's beers nationally and possibly export to Europe. The acquisition of the 16-year-old company is expected to be completed in June 2015.
'They see the opportunity, and believe in the longevity, of modern craft beer in the UK,' said Meantime's chief executive, Nick Miller.
'We love local variety, and carefully nurture our 200 local and heritage beers,' said Sue Clark, managing director of SABMiller Europe.