Camden Town Brewery is being bought by the world’s largest brewer, maker of Stella Artois and Fosters AB InBev.

The craft brewer, which produces its Camden Hells lager and Camden Pale Ale from its Kentish Town base, revealed the acquisition, saying it will “pave the way for further growth and expansion”.

The tie-up comes just weeks after it was announced that AB InBev is considering selling off another London craft brewer, Meantime, if its £70 billion takeover of Meantime owner SAB Miller comes off.

Camden Town said becoming a wholly owned subsidiary of AB InBev would support the company’s plan to build a second brewery in the capital.

It recently raised more than £2.75 million in an equity crowdfunding campaign on Crowdcube, surpassing a £1.5 million target, to fund expansion.

Founder Jasper Cuppaidge said: “AB InBev is going to be our strategic partner, helping us maintain the character and quality of our beers, while giving us access to the investment we need to drive Camden to being ever more successful at home and abroad.”

Iain Newell, European director of specialities and craft at AB InBev, added: “Camden Town is a creative business with a great range of brands that will complement our existing portfolio.

“We will support their ambitious plans for the future, using our expertise and global distribution network to help them get their great beer to more people.”

Some exciting news - we've signed a deal with @AbInBevUKI_News (1/3) https://t.co/4oVQQQO6Le — Camden Town Brewery (@CamdenBrewery) December 21, 2015

The partnership is going to help us deliver our plans to grow, expand operations, create more jobs + continue to brew our great beer. (2/3) — Camden Town Brewery (@CamdenBrewery) December 21, 2015

Same beer, same strategy, same Camden Town Brewery. This will allow us to do what we do bigger + better! (3/3) — Camden Town Brewery (@CamdenBrewery) December 21, 2015

Neither company provided financial details of the deal, which is expected to close by January 7.

Camden Town started production in 2010 and now has a team of 95, who helped sell a total of 12 million pints so far this year.

Its beers are available in over 1000 pubs, bars, restaurants and retailers across Britain, as well in Sweden, Australia and Japan.