In a surprising turn of events, Chobani founder Hamdi Ulukaya has purchased the historic Anchor Brewing Company in San Francisco. The brewery, which closed in 2023 due to significant financial losses caused by the impact of the novel coronavirus, will be revived under Ulukaya's investment firm Shephard Futures.
Anchor Brewing, established in 1896 and known for its Anchor Steam beer and deep blue-collar roots in San Francisco, went out of business after losing $13 million in 2020, $22 million in 2021, and $10 million in 2022.
Ulukaya visited the brewery facilities and was persuaded to buy and restart the brand. He plans to work out an agreement with the longtime brewery workers and their union, International Longshore and Warehouse Union Local 6. San Francisco Mayor London Breed expressed her support for Ulukaya's acquisition, stating that Anchor Brewing has always been a beloved part of San Francisco.
The billionaire intends to bring back the iconic brand that so many in San Francisco and around the world have loved for generations. He was drawn to the city's history, grit, and charm and believes brands born in places like this are incredibly special and must be treasured, respected, and loved.
Anchor Brewing is a legendary craft brewery that has been rescued from financial insolvency multiple times throughout its history. Previous owners include Fritz Maytag in the 1960s and Sapporo in 2017. Ulukaya's acquisition marks another chapter in the storied history of Anchor Brewing Company.
