Lion buys up craft brewer

BREWING heavyweight Lion, which owns popular mainstream beers such as XXXX and Tooheys, has strengthened its portfolio of craft beers with an acquisition in Britain.

Japanese-owned Lion has struck a deal to buy Londonbased Fourpure Brewing for an undisclosed sum.

Fourpure co-founder and chief executive Daniel Lowe said that over the past year, his company had been working to secure funding for the next phase of the brewer’s growth.

“We met Lion towards the end of our process after a wide range of funding options had been considered, and quickly realised we had a shared vision and values,” he said.

Lion global markets managing director Matt Tapper said that the group had “a long and proud history in craft beer in Australia and New Zealand and we’re thrilled to have the opportunity to back Dan, Tom and the team to take Fourpure into its next chapter”. Lion has pushed heavily into the craft sector recently, paying $380 million in 2012 for the brewer that makes Little Creatures.