 |
Singer Associates represents Anchor Brewing, which bills itself as America’s first craft brewer, as Japan’s Sapporo decides to pull the plug on the iconic San Francisco beer maker that it acquired in 2017.
Sam Singer said the move to shutter the 127-year old brewer was an extremely difficult decision reached after many months of careful evaluation.
"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,” he said.
Singer said the bulk of Anchor sales were made in bars and taprooms that were walloped during the pandemic.
Anchor made the switch to selling in grocery stores and supermarkets but it was too late to the game, according to Singer.
Singer said there’s still a chance another buyer might emerge during the liquidations process.
Fritz Maytag, heir to the washing machine fortune, purchased a 51 percent stake in Anchor Brewing in 1965 to help it stave up bankruptcy.
Anchor's 61 workers received 60-day notices on July 12, and will be given transition support and separation packages.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
