The self-proclaimed first craft brewer in the US is going into voluntary liquidation, after a buyer for the business could not be found.
Anchor Brewing Co, which was acquired by Sapporo Holdings six years ago, confirmed plans to close earlier this week. The decision has been taken due to “a combination of challenging economic factors and declining sales since 2016”, the San Francisco-based company said yesterday.
Among the factors cited for the move were the impacts of the pandemic, inflation, “especially in San Francisco” and a “highly competitive” craft beer market in the US. The announcement follows two transactions earlier this month in the country that saw Appalachian Mountain Brewery and Funky Buddha Brewery return to their founders from Anheuser-Busch InBev and Constellation Brands, respectively.
“Anchor recently announced it would limit sales of Anchor beers to California and that it would cut production of its Anchor Christmas Ale,” the 127-year-old brewer said. “These decisions had to be made immediately to reduce costs while final attempts were made to evaluate all possible outcomes.
“In the end, expenses simply continued to outstrip revenues, leaving the company with no other viable choice.”
Anchor noted, however, that an acquirer may arise as part of the liquidation process.
How to get in front of US beverage alcohol consumers – Market Intel
