Greenwich's Meantime brewing company is being taken over by the company behind Foster's and Miller.

The craft beer company was founded in Greenwich by brew master Alastair Hook 15 years ago, opening its own state of the art brewery in the two centre back in 2010 and seeing products like London Lager and stocked in supermarkets like Sainsbury's and Waitrose.

But a takeover by SABMiller - which also own brands including Grolsch and Peroni - is intended to grow the brand nationally and across Europe, with a promise Meantime will be allowed to "innovate".

Current chief exec Nick Miller, who will remain in charge of Meantime following the takeover, 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.

"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."

SABMiller managing director Sue Clark 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."

The takeover - due for completion next month - includes the acquisition of Meantime's tasting rooms and brewery shop, the Greenwich Union pub, pop-up boozer Beerbox and their Brewery Fresh tank beer concept.

Financial terms of the deal have not been revealed.