British cider maker Aspall has been snapped up by US beer giant Molson Coors for £40m

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British cider maker Aspall has been snapped up by a US beer giant.

Molson Coors said it was buying the firm in a deal believed to value it at £40 million.

Aspall was established by Clement Chevallier in 1728 and is still based at the Suffolk site where its first orchards were planted.

Brothers Henry [white coat] and Barry Chevallier Guild own most shares in the firm and stand to make tens of millions of pounds

Alongside cider it also sells vinegar and apple juice, with its most recent accounts showing an annual turnover of £27.1 million. It employs 120 people. Molson Coors said it wanted to expand the business globally and make it a leading premium brand.

Members of the Chevallier family, who still run the business, would remain involved, it added. 

Brothers Barry and Henry Chevallier Guild (pictured) own most shares in the firm and stand to make tens of millions of pounds between them from the deal. It is the latest British brewery to be bought by a foreign giant. 

Carlsberg also snapped up Hackney-based London Fields Brewery last year, with other craft beer makers such as Camden Town Brewery and Meantime also being taken over.

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