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.