Anchor Brewing’s future was revealed today with the announcement that Hamdi Ulukaya, the billionaire founder and CEO of yogurt and dairy brand Chobani, has acquired the craft brewery and its 2.17 acre property in San Francisco’s Potrero Hill neighborhood, according to The San Francisco Standard.
Ulukaya’s investment firm Shepherd Future and developer Presidio Bay Ventures are in the process of resuming operations at the brewery, with the sale reportedly including the production facility and a nearby taproom, totalling 110,000 sq. ft.
Although a sale price was not disclosed, the real estate had been listed for around $40 million.
Anchor’s previous owner, Sapporo, ceased operations last July at the brewery and began a sale process for the 127-year-old craft brand’s assets.
Ulukaya announced the news on LinkedIn today, writing: “I have fallen in love with San Francisco, its history, grit, and charm. From my first visit, I felt a deep connection to its people and everything that makes them so special. When I considered acquiring Anchor Brewing Company, I learned the story of this amazing brand – America’s oldest craft beer – is deeply rooted in this great place and the two are forever connected.”
Ulukaya’s post was accompanied by a video, in which he described meeting with four former Anchor Brewing employees and discussing the history of the brewery, the “uniqueness of Steam Beer,” and how Anchor was “embedded in San Francisco’s fabric.”
“It might be old, it might be given up on, but it is the grand jewel,” Ulukaya said in the video.
“When I told them that I’d like to be part of bringing this company, Anchor beer, this dream, back to life, they couldn’t be more excited and I couldn’t be more honored,” he continued. “It’s the essence of San Francisco, It’s the essence of this country, that we can always bring it back stronger, better than ever before. I think the best time of San Francisco is yet to come. I can’t wait to get back to work on my part with Anchor Brewing. Let’s do this.”
Sam Singer, who served as the spokesperson for the Sapporo-owned Anchor brand during the closure and sale process, said in a statement shared with Brewbound: “This is a great day for San Francisco. Anchor is deeply pleased that Hamdi Ulukaya has purchased the Anchor Brewing Company. His commitment to the brewery and its history in San Francisco will be important to future generations of San Franciscans and Californians.”
Sapporo announced it would cease operations at Anchor and liquidate the business in July. Workers were given 60 day’s notice, and packaging and distribution of remaining beer continued through the end of July. At the time, Sapporo said it had repeatedly tried to sell the business for at least a year, but those efforts fell short.
Hilco Corporate Finance took over the bidding process, and considered offers for all of Anchor’s assets – including intellectual property, real estate and brewing equipment – both individually and as a group of assets.
Many expressed intent to buy the business, including Anchor SF Cooperative, a group of former Anchor workers, who launched a WeFunder campaign to support their bid. News of the winning bid was expected by the end of January, with multiple bids under review at the time, according to the San Francisco Chronicle. However, news of the winning bid was not made public until now.
Ulukaya is the latest person to resurrect the Anchor brand, which was established in 1896. Fritz Maytag famously revived Anchor in 1965, and established Anchor Steam Beer as an iconic craft brand.
Ulukaya is also the majority owner of La Colombe Coffee Roasters, purchasing a majority stake from a private equity firm in 2015, according to the San Francisco Standard. Chobani went on to acquire La Colombe for $900 million in December, making Keurig Dr Pepper an equity stakeholder in Chobani, thanks to a previous minority investment in La Colombe.
Anchor produced 15,000 barrels of beer in 2023, before operations shut down, according to the Brewers Association’s New Brewer Magazine.