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San Francisco's beloved Anchor Brewing Company, which closed down last summer after 127 years in business, is making a return after billionaire Hamdi Ulukaya purchased it.

Billionaire Hamdi Ulukaya Vows to Revive Anchor Brewing

Chobani Yogurt founder and CEO Hamdi Ulukaya bought the beer company and all of its assets on Friday, May 31, for an unknown sum and has promised to restore it to its former glory.

According to a video on X that announced the sale, the Turkish billionaire said he decided to visit San Francisco to see Anchor Brewing after hearing reports of its closure last year. He met with former workers and expressed his desire to help revive the firm and the beer brand. The employees were ecstatic, Ulukaya said.

San Francisco has lost large companies because of pandemic shutdowns and crime increases, and the brewery was among them. According to Ulukaya, he intends to retain Anchor Brewing's brand, as he respects the company's history and will maintain the business in the Potrero Hill area.

The Ups and Downs of Anchor Brewery Throughout the Years

According to Fox Business, Anchor Brewery has promoted itself as the pioneering artisan brewery in the United States since its inception in 1896. It has dramatically changed since Japanese beer maker Sapporo bought it in 2017.

The 2019 unionization vote at Anchor Brewery was a landmark point, the firm said on its website, positioning it as the "pioneer of the craft beer union movement."

Anchor Brewing made a major rebranding effort in 2021, altering the appearance of its goods. However, despite the redesign, sales plummeted 10% the following year.

In July 2023, the brewery confirmed that it would be closing its doors due to various difficult economic circumstances and falling sales since 2016. In its statement at the time, Anchor Brewing said that it had been searching for a buyer for a year without success, yet it expressed optimism that one may be found during the liquidation process.

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