America's Oldest Craft Brewery Is Shutting Down After 127 Years
Craft beer has exploded in popularity in recent years as breweries from Portland to Asheville serve their concoctions to thirsty customers. But long before today's craft beer craze, there was one company that started it all: Anchor Brewing.
With its roots dating back to 1896, the iconic craft beer became synonymous with its hometown of San Francisco and was the foundation for the art of craft beer today. But after 127 years of operation, the brewery is shutting its doors for good. The company announced on July 12 that it was ending operations immediately and liquidating the business.
"We recognize the importance and historic significance of Anchor to San Francisco and to the craft brewing industry, but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations," Anchor Brewing Spokesperson Sam Singer said in a statement, per USA Today.
Sales of the beer had been declining since 2016, and rising costs and continuing supply chain issues threatened the smooth operation of the business for years. Japanese beer giant Sapporo acquired the brand in 2017, but a group of employees complained just last month about the parent company's alleged mismanagement and lack of understanding of craft beer in the United States. A 2021 rebrand was also seen as too hard of a pivot away from Anchor's classic look.
The move comes after Anchor shrunk its national distribution last month, limiting its sales to just California. "In the end, expenses simply continued to outstrip revenues, leaving the company with no other viable choice," a press release read. Brewing stopped immediately and all beer in stores will still be sold through the end of July.
Related: Craft Beer, Now Brewed Like Budweiser
Fritz Maytag, a descendent of the Maytag Corporation, brought the company back from the brink of bankruptcy in 1965. He bought Anchor when it was struggling and helped popularize the craft beer industry in the U.S.
“This is a sad day in the history of craft brewing in America,” Craft Business Daily publisher Harry Schuhmacher told CNN. “I know Fritz must be heartbroken. He literally nurtured that brewery from insolvency in the '60s to becoming San Francisco’s hometown beer and symbolic of America’s craft beer resurgence."
If you want to get your hands on Anchor, act fast and run to your nearest store that may carry it. You might even be able to make a quick buck by selling the soon-to-be collectors' item on eBay.
