The South Australian Brewing Company, Limited, was established in February 1888 as the South Australian Brewing, Malting, and Wine and Spirit Company by the amalgamation of Sir Edwin Thomas Smith's Kent Town Brewery, William Knox Simms's West End Brewery and the wine and spirit merchants Rounsevell & Simms (W. B. Rounsevell and Alfred Simms).
The Managing Directors of the new company were Robert Alfred Stock, Alfred Simms JP., and W. B. Rounsevell. Provisional directors were Sir. E. T. Smith, W. K. Simms, MLC., W. B. Rounsevell, MP., R. A. Stock, Alfred Simms, Charles H. T. Hart, and Frank Rymill of Adelaide, and Hon. N. Fitzgerald, MLC., John Robb, JP., M. D. McEacharn, John B. Watson, and John McIlwraith, of Melbourne.
In 1927 T. A. Nation was the brewer and G. B. Bryant the general manager. His board of directors comprised S. J. Jacobs (later Managing Director), Sir Lancelot Stirling, K.C.M.G., Edward Fitzgerald, LL.D., and H. W. Morphett.
The Torrenside Brewery at Southwark, (pronounced SUTH-uk, now part of Thebarton, pronounced THEB-uh-tun) on the banks of the River Torrens north-west of the city centre producing "Southwark" beers, was founded by A. W. & T. L. Ware in 1886 and became the Walkerville Cooperative Brewery in 1898. This business was taken over by the South Australian Brewing Company in 1938.
The West End brewery was closed between the wars, and the operations consolidated with the Southwark brewery operations at the Thebarton site.
According to legend, the black and red colours of the SA Brewing Company came about after the West Adelaide Football Club (whose colours are black and red) defeated Port Adelaide in the 1909 South Australian National Football League (SANFL) Australian rules football Grand Final. The legend states that, had West Adelaide not won the match, the brewery's colours would have become the black and white of Port Adelaide.