San Francisco beermaker Anchor Brewing will shut its doors after nearly 130 years, the company announced on Wednesday, blaming declining sales and economic pressure as inflation remains high and competition in the craft brewing industry intensifies.
Longtime San Francisco beermaker Anchor Brewing will shut its doors after nearly 130 years, the company announced on Wednesday, blaming declining sales and economic pressure as inflation remains high and competition in the blossoming craft brewing industry intensifies.
The move comes after Anchor's sales volume dropped roughly 10% last year to 65,000 barrels, and had fallen by more than 24,000 barrels from 2018, when it produced 89,612 barrels, according topublished by the Brewers Association’s New Brewer Magazine, below major regional craft brewing companies including Lagunitas , Founders Brewing , Stone Brewing and Goose Island .
Anchor Brewing spokesperson Sam Singer said the move also comes after Anchor’s “repeated efforts” for more than a year to find a potential buyer, adding that the company is holding out hope a buyer could come forward in the brewery’s liquidation process. Anchor Brewing gave its employees 60 days notice, and said it would provide “transition support and separation packages.”A San Francisco stalwart making beer since 1896, Anchor Brewing was acquired by Japanese mega brewing company Sapporo Holdings Ltd. for $85 million in 2017, but has faced a gauntlet of financial woes in recent years.
the brewery had been struggling with rising product costs as a result of high inflation, and that a “highly competitive craft beer market” and “historically costly steam brewing technique” compounded the issue.Anchor Brewing’s closure marks the latest San Francisco company to close its doors in the city, and comes as a group of San Francisco tech companies—including Alphabet, Salesforce and Apple—conduct major rounds of layoffs.
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