Fortune sat down with SABMiller Executive Chairman Graham Mackay to chat about craft beer and how national brewers are responding with their own craft brands. (SABMiller has a MillerCoors brewery in Trenton, Ohio.)

"There's a huge debate in the craft world about us, all big brewers, because we're like the enemy," Mackay said. "We're the other guys. They think we're stealing their authenticity. What we say is, 'Let the consumer decide.' If we're authentic enough for the consumer, that's authentic enough for anyone." 

He also told Fortune: "I don't think the craft movement in its current guise will continue to grow indefinitely. I don't think it can. It's not economic. Too many people won't make any money. Too many of them will go out of business. And I think it will become less fashionable. These things are fashion to some extent." "

To read the full Q&A, click here.