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Anchor Brewing Company

Golden Gate Bridge
Food & Beverage

Anchor Brewing Company (Anchor) has ties to the post-Gold Rush San Francisco breweries of the early 1870s and was founded in 1896. The brewery began by producing “steam beer,” considered to be the first beer that originated in America, which continues to this day as its flagship Anchor Steam Beer. Brewing pioneer Fritz Maytag acquired the company in the 1960s and expanded its line by adding porter, pale ale and others, giving Anchor the title of “America’s First Craft Brewery.”

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Situation and Engagement

After years of losses exacerbated by COVID lockdowns, Anchor’s owner shut down operations and commenced an Assignment for the Benefit of Creditors process in July 2023. The assignee engaged Hilco Corporate Finance (HCF) as its advisor to run a sale process to maximize the value of Anchor’s intellectual property, real estate and machinery & equipment assets.


After running a broad marketing process in which over 350 parties were contacted, Anchor sold substantially all assets to Hamdi Ulukaya in May 2024. Mr. Ulukaya is the Founder, Owner, Chairman and Chief Executive Officer of Chobani LLC. Terms were not disclosed.


“This is not just an investment in San Francisco. It’s a recognition of what makes our city truly special – our history, our institutions, and our people. Anchor Brewing has always been a beloved part of San Francisco and thanks to Hamdi Ulukaya, it will be a part of San Francisco for years to come. I’m grateful for his commitment to being a part of the future of our city and for keeping the tradition of Anchor Steam beer being brewed right here where it belongs.”

– London Breed, Mayor of San Francisco, May 31, 2024

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