Japanese brewer Asahi has agreed to buy the beer business of London Pride-maker Fuller's for £250 million ($327 million, 289 million euros), the pair announced Friday. As well as purchasing the production and distribution operations of Fuller's beer, cider and soft drinks, Asahi's European arm will take over also the wine wholesaling business and the centuries-old Griffin Brewery.

This will see Fuller's focus on being a "premium pub and hotel operator", a statement said. "Recent structural changes to the beer industry, which have resulted in material economies of scale benefiting global brewers and a progressive beer duty spawning small brewers... have been challenging," Fuller's said.

Copyright Agence France-Presse, 2019