San Francisco’s Anchor Brewing is to be bought by Sapporo for $85 million as the Japanese company targets global expansion.
Anchor, which was founded in 1896 and is considered one of the founders of the US craft beer movement, had annual sales last year of $33 million.
Sapporo said it plans to maintain Anchor’s traditions and legacy in San Francisco with the current management team continuing to run the business but with additional resources.
The Japanese company aims to improve efficiency and export Anchor to new international markets using its global distribution resources.
Anchor co-owner Keith Greggor told the Los Angeles Times: “We have been evaluating the future for some time and recognising the challenges in craft breweries and the number of breweries that have come to the market, we felt we needed to have a stronger partner to achieve our long-term goals.”
Sapporo Holdings president Masaki Oga said: “Anchor Steam Beer is a San Francisco original, inspiring a new generation of brewers and beer lovers around the world. Both companies share a brewing philosophy backed by long histories and this transaction enables both Sapporo Group’s US business and Anchor Brewing Company’s global business to make a further leap forward.”
Anchor is the latest independent brewer to be snapped up by a larger beer company. Heineken completed the acquisition of Lagunitas Brewing in May and Constellation Brands spent a reported $1 billion to buy Ballast Point Brewing & Spirits in 2015.
Earlier this week the US Brewers Association reported a slowdown in the growth of the craft beer industry. Volume increased by 5% during the first half of 2017, down from 8% last year and 16% in 2015.
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