Japanese brewing giant Asahi is active at both the small and big end of Australia's $14 billion beer market, swooping on Queensland craft brewer Green Beacon Brewing.

The acquisition of the Brisbane group comes just a month after Asahi made a $16 billion buyout offer for Australia's biggest beer company, Carlton & United Breweries.

CUB owns Victoria Bitter and Carlton Draught, and had also been stepping up its own presence in craft beers well before the Asahi buyout offer, acquiring Sydney's 4Pines and the Adelaide-based Pirate Life.

Green Beacon has been acquired by beer giant Asahi. Supplied/Green Beacon

It is understood that CUB had itself made overtures to Green Beacon months earlier prior to itself being bought out by Asahi, and had been trying to convince the owners to sell. They will now be under the same umbrella.

Asahi executive chairman Peter Margin said Green Beacon was ''a great brand and a great business''. A sale price wasn't disclosed.