A U.S. craft brewing pioneer will reportedly become the latest to be acquired by a larger rival.
Sapporo Holdings last week announced an agreement to purchase Anchor Brewing Co. for a reported $85 million. The deal does not include Anchor Distilling, which will continue as an independent company.
Anchor was founded in San Francisco in 1896, but only became a lynchpin of the craft beer sector after Fritz Maytag purchased the company in the 1960s and struggling brewery began making more complex beers, such as its flagship Anchor Steam Beer.
Keith Greggor, who joined with Tony Foglio to purchase the company from Maytag in 2010, told the San Francisco Chronicle that although executives spoke with numerous potential suitors, Japan-based Sapporo "respected Anchor the most, what it stood for and the importance of its connection with San Francisco.”
Sapporo indicated it would keep the brewery's operations in San Francisco and update its production and packaging operations. Greggor said that Anchor would continue to be made in its Potrero Hill brewery at least until that facility reaches its production capacity.
Many of the world's largest breweries sought to acquire U.S. craft brewers in an attempt to capitalize on the continued growth of the segment.
Domestic giants Anheuser-Busch and MillerCoors each added smaller brewers, while Mexican beer brand owner Constellation Brands and the Netherlands' Heineken acquired fellow California brewers Ballast Point and Lagunitas, respectively.