SAB looks to fast-growing craft beer with Meantime acquisition

LONDON, May 15 (Reuters) - SABMiller (Xetra: BRW1.DE - news) said it would acquire British craft beer firm Meantime Brewing Company, giving the maker of big name brands such as Peroni and Grolsh, exposure to the fastest-growing part of the British beer market.

SAB said it planned to grow the sales of Greenwich, London-based Meantime's beers across Britain and would also look to export it in other European markets.

The financial terms of the deal were not being disclosed, SAB said, adding that the acquisition would complete in early June.

Meantime's beers include London Pale Ale and London Lager. It grew sales volumes 58 percent in 2014, compared to a 1 percent rise in Britain's beer market as a whole. (Reporting by Sarah Young; editing by James Davey)