Lion Breweries staff will be raising a drink to the man who was the driving force behind the company, Sir Douglas Myers.

He had been diagnosed with aggressive secondary cancer and died in a London hospital yesterday aged 78.

Sir Douglas also spearheaded the audacious takeover of Australia's Bond brewing assets in 1990.

Lion NZ Managing Director Rory Glass says he was an astute and courageous businessman, who created the foundation for the company Lion is today.

"He was one of the first Kiwis to go and make a successful fist of the Australian market, which I think he was incredibly proud of. Certainly, he was an incredibly courageous businessperson."

Rory Glass is offering the company's heartfelt condolences to Sir Doug's family.

"We'll absolutely be raising a Steinlager to him today, he will be fondly remembered within the Lion business."

Sir Douglas was one of New Zealand's richest men and was long time chief executive of Lion Breweries and Lion Nathan.

LISTEN ABOVE: Andrew Dickens pays tribute to Sir Douglas Myers

In July 2013 he was told his bowel cancer, operated on five years ago, had metastasised with a vengeance.

Twelve tumours had invaded five organs. His doctor told Sir Douglas that in two months, his body would shut down and he would be dead.

Four months later and Sir Douglas told the Herald he was undergoing aggressive chemotherapy, which his body was tolerating well given his age. Apart from annoying shingles and tiredness, he couldn't complain too much.

In 2002, Sir Douglas moved to live in London while also continuing to spend time on the family farm at Matauri Bay in Northland.

He was awarded a CBE in 1991 for his services to business management and was knighted in 2010.

Sir Douglas was ranked tenth on the 2016 NBR Rich list with a total worth of $930 million.

Myers' father, Sir Kenneth Myers, and grandfather, Sir Arthur Myers, were both very successful businesspeople, as were those on his mother's side of the family.

Besides accomplishments in the brewing industry, Myers put $3m into Auckland University's Kenneth Myers Arts Centre, created the Sir Douglas Myers Scholarship worth $100,000 a year to study at Cambridge University, and supported Auckland University's business school.