InBev UK is set to close its Stag brewery in Mortlake, London by 2010.
The Stella Artois brewer acquired the brewery through its recent merger with Anhesuer-Busch.
It has entered a consultation period and is proposing to close the Budweiser brewery, with up to 182 potential job losses, as part of a restructuring of its UK operations.
It said: "This consultation is also a response to challenging market conditions and significantly higher costs imposed as a result of record rises in beer taxation, which mean that we need to review and propose any changes now.
"This proposal will be subject to full consultation with our employees and their representatives. This announcement is not a reflection on the quality of our employees, who will be an integral part of this process and will be treated with respect throughout.
"We remain committed to investing in our brands and ensuring the long-term competitiveness of our business. We remain a customer focused and consumer orientated company."