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San Francisco’s Anchor Brewing Co., which closed last summer after 127 years in business, is making a comeback.
Chobani CEO and founder Hamdi Ulukaya purchased the brand and all of its assets on Friday for an undisclosed amount, promising to restore it to its former glory.
In a video message announcing the move, the Turkish billionaire said he first heard about Anker when news broke last year that it was going to close and decided to visit. San Francisco Let’s check it out.
Hamdi Ulukaya, founder and CEO of Chobani LLC, speaks at the Clinton Global Initiative’s annual meeting on September 20, 2022 in New York. (Michael Nagle/Bloomberg via Getty Images/Getty Images)
“When I saw an article about the oldest craft brewery in America closing, I went out of curiosity to check it out and realized that it may be an old brewery, it may be out of business, but it’s still an incredible gem,” Ulukaya said.
The brewery, which has a history dating back to the California Gold Rush, announced in July that it had been forced to close due to “challenging economic conditions and declining sales since 2016.”
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Anchor said at the time that it had tried unsuccessfully to find a buyer for a year and was still hopeful a buyer would come forward during the liquidation process.
The exterior of Anchor Brewing Company in San Francisco on January 29, 2018. (Gabriel Lurie/San Francisco Chronicle via Getty Images/Getty Images)
The closing of the iconic brewery marks another blow for San Francisco. Cities in California The Anchor has seen a string of major businesses move out due to pandemic closures and a recent rise in crime, but Ulukaya said he plans to protect the brand, respect the Anchor’s history and traditions, and keep his company in the Potrero Hill neighborhood.
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Anchor was founded in 1896 and for many years was touted as America’s first craft brewery. It was acquired by Japanese brewer Sapporo Holdings in 2017 and has undergone major changes since then.
In 2019, Anchor employees voted to unionize, and the company said on its website that it had become a “pioneer in craft beer.” Trade union movement“
“Bottles of Anchor Steam” in San Rafael, California, August 3, 2017. (Justin Sullivan/Getty Images/Getty Images)
In 2021, Anchor Brewing underwent a major branding refresh and product redesign. Despite the redesign, sales continued to decline, dropping 10% the following year, according to Just Drinks. When Anchor closed, Sapporo said it would focus its U.S. growth efforts on expanding its own brands and through Stone Brewing Co.
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In the video, Ulukaya said he met with former Anchor employees and told them he wanted to be a part of making Anchor Beer, a company, and this dream come true again, and they “couldn’t be more excited.”
“I couldn’t be more honored,” he added. “This is the essence of San Francisco. The essence of this country is that we can always come back stronger than ever before. I believe San Francisco’s best is yet to come.”
