Craft beer pioneer Anchor Brewing Co., known for its iconic Anchor Steam and Christmas Ale beers, has been acquired by Hamdi Ulukaya, the founder of Chobani yogurt and a billionaire.
Chobani CEO Hamdi Ulukaya has announced the acquisition of Anchor, a San Francisco-based food brand. The financial details of the purchase have not been disclosed. Ulukaya expressed his excitement about being a part of Anchor’s new chapter, stating that the company encapsulates the essence of what makes San Francisco great.
He expressed his love for the city, admiring its history, grit, and charm. According to him, brands that originate from such places hold immense significance and should be cherished, honored, and adored.
Last year, beer enthusiasts were saddened by the closure of the San Francisco-based brewing company. Established in 1896, the company had to shut down due to a decline in sales and tough competition from canned cocktails, crafted drinks, spirits, and wines.
In the 1960s, Anchor Brewing was saved from the brink of financial collapse when Fritz Maytag stepped in and acquired the company. Maytag’s involvement led to a resurgence in small-scale and local brewing. The company was later purchased by Japanese brewer Sapporo in 2017.
Heartbroken brewery employees made unsuccessful attempts to purchase the company last year.
Ulukaya, the CEO and founder of Chobani, has expanded his investment portfolio as Shepherd Futures, his family office, has acquired the assets of Anchor Brewing.
Hamdi Ulukaya grew up in a dairy-farming family in eastern Turkey. He made his way to the United States and established Chobani in 2005 with the aim of bringing back the pure and nutritious Greek yogurt of his childhood, as stated on the Chobani website.
The company’s product range has grown beyond yogurt to include milk, creamers, and other beverages. The company is headquartered in New York.