Enormously popular Brisbane craft brewery Green Beacon Brewing Co has been purchased by Asahi. The news was announced early today in an Asahi media release supplied to beer industry publications.

It follows two years of speculation surrounding a potential sale, Brews News reports, and comes after the Japanese brewer last month purchased CUB, acquiring with it craft brands 4 Pines and Pirate Life.

Green Beacon was one of the first of Brisbane’s wave of craft brewpubs and remains one of the best, brewer Johann van der Walt helping it win numerous Champion Brewery trophies at the Australian International Beer Awards in both the small brewery and medium brewery classes.

The brewpub’s warehouse space on Helen Street in Teneriffe was a revelation when it opened in 2013 – a welcome and then rare reprieve from the inner-city mega pubs and clubs that dominated Brisbane’s drinking scene at the time.

The brewer has since opened a larger production brewery in Geebung and partnered with Singapore Airlines to offer its beer on business class flights.

Green Beacon founders Adrian Slaugher and Marc Chrismas will stay on with Green Beacon in management roles. “We want to continue growing and maintaining the quality and integrity of our beers, whilst ensuring all Australians are kept amply supplied in great beer!” Slaughter said in the news release. “Partnering with Asahi to deliver this is truly exciting and provides security and opportunity for our customers, consumers and wider Green Beacon family. Our goal has always been to make the best beer and to get it into as many people’s hands as possible. In Asahi, we have a partner who shares this commitment and can support us in achieving this goal.”

Brews News reports that no sale price was announced.

This story was originally published on August 21.