Billionaire Hamdi Ulukaya purchased the oldest craft brewery in the U.S., which closed last year, for an undisclosed amount.
Anchor Brewing’s demise last year was largely attributed to financial woes caused by the high number of entrants into the craft beer space over the past decade and an inability to adapt to the marketplace following the pandemic. After announcing it was shuttering its operations last July, fans started petitions to reopen it and workers explored repurchasing the brewery themselves. With the backing of a CPG industry heavyweight, the brewer could be in an improved position as it re-enters the craft beer market. In Anchor’s announcement, Ulukaya said the purchase signals a “rebirth” for both the brewer and San Francisco, a city which has experienced a period of negative headlines since the pandemic.
