(TDB) - UK brewer Fuller’s has sold its entire beer business, which includes flagship brand London Pride and the historic Griffin Brewery, to Japanese drinks group Asahi in a deal worth £250 million.

The deal, which is expected to be completed in the first half of this year, includes Fuller’s entire brewing operation in addition to its brands Cornish Orchards cider, Dark Star Brewing and Nectar Imports, wine wholesaling enterprise and drinks distribution network.

A statement from members of the Fuller’s board added: “Having carefully considered its options for the beer business and Fuller’s existing relationship with Asahi, the Board believes that Asahi is the ideal owner of the beer business and will create the right environment for the beer business to flourish in the future and protect the Fuller’s brewing heritage.

“The Board welcomes the fact that Asahi also upholds Fuller’s key values of a genuine commitment to brewing excellence and has a proven track record as a long-term steward of iconic brands making them an ideal strategic partner to the Fuller’s pubs and hotels business in the future”.