Yogurt billionaire to bring back historic Anchor Brewing
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Anchor Steam beer circa 2017. Photo: Justin Sullivan/Getty Images
The billionaire owner behind yogurt brand Chobani has acquired Anchor Brewing Co., the historic San Francisco brewery that shut down last year.
Why it matters: Anchor Brewing, often called the godfather of steam beer, had become a staple in San Francisco, so its closure after 127 years of business sent shockwaves through the city.
Driving the news: Shepherd Futures, the family office of Chobani CEO and founder Hamdi Ulukaya, on Friday announced its acquisition of Anchor Brewing's assets.
- That includes the recipes, Potrero Hill facilities, brewing equipment and original logos.
What they're saying: "Being part of a rebirth and brand of the company and being part of maybe a new dimension of the city is pretty exciting," Ulukaya told the San Francisco Standard.
The intrigue: Ulukaya told the San Francisco Chronicle he did not know Anchor Brewing existed until last August, when he read about the news of its closure.
- Ulukaya, who lives in New York, has been to San Francisco only a handful of times but "felt completely home" when he first visited Anchor Brewing's facilities, he told the Standard.
Flashback: Anchor Brewing began in the Gold Rush era, when pioneer brewer Gottlieb Brekle came to San Francisco from Germany in the mid-1800s and bought an old billiards saloon in 1871.
- The brewery did well after officially launching in 1896 but struggled when the 1906 earthquake and subsequent fires wreaked havoc on San Francisco.
- After Prohibition ended in 1933, American demand for lighter, mass-produced beers almost forced Anchor Brewing into bankruptcy until a young Stanford graduate named Fritz Maytag bought 51% of the craft brewery in 1965 and transformed its products and distribution approach.
- The brewery soon expanded its beer offerings and began partnering with local venues to serve its beverages.
- Ahead of Anchor Brewing's closure last year, then-owner Sapporo pointed to declining sales as the reason for its shutdown.
What to watch: Ulukaya told the Chronicle that he would like to resume operations in time for Christmas, but the company first needs to get approval from the city.
- Ulukaya has already met with some city officials, including Mayor London Breed, who told the Chronicle she's "grateful for his commitment to being a part of the future for our city" and keeping Anchor's beer "right here where it belongs."