Members of the Chevallier family will remain part of the business.
Aspall will now operate as part of Molson Coors UK & Ireland, within the Molson Coors European business unit and will continue to press, ferment, keg and bottle at its single site in Aspall, Suffolk.
North American-based multinational brewing group Molson Coors has acquired the cider and vinegar maker - established in 1728 by Clement Chevallier in the village of Aspall, near Debenham, where it is still based - in a deal thought to value the Suffolk company at around £40m.
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Aspall chairman Barry Chevallier Guild said the acquisition was an important milestone for the cider producer, which had followed a year of negotiation between the two companies.
Henry Chevallier Guild, one of the owner-directors of Aspall, told Sky News past year that the company would only strike a deal with a partner "who wants to preserve the values and heritage of the brand".
Molson Coors said it aims to develop Aspall into the UK's top-selling premium cider brand.
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"Molson Coors is known for respecting the provenance of local brands it has acquired in the past, and has the scale and expertise to accelerate our growth in the premium cider category in the United Kingdom and beyond".
The firm will also acquire Aspall's organic cider vinegar range, which it says is made using a fermentation process that is the only one of its kind it claims is unique in the world. Both companies share a similar history that is deeply rooted in family, dedication to customers and a commitment to excellence.
In a major tide of events witnessed across the beverage industry, the reputed USA beer firm Molson Coors has purchased Aspall, an established cider manufacturer based at Suffolk in the United Kingdom, for almost GBP 40 million. Figures from Nielsen show the market grew by more than 25% between 2010 and 2015: with such growth projected to continue through to 2020.
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The US beer giant said it aimed to make the brand the number one premium cider in the United Kingdom, as well as growing its range of cider vinegars.