Hamdi Ulukaya, founder and CEO of Chobani, US yogurt brand No. 1, aims to revive Anchor Brewing Co., a 127-year-old iconic brewery. Ulukaya announced that his family office has acquired all of Anchor’s assets, including the brand, real estate, brewing equipment, and steam beer recipes.
Anchor Brewing, once the oldest craft brewery in the US and a beloved San Francisco institution, closed last July due to declining sales and economic pressures. Sapporo Holdings, its former Japanese owner, had bought it in 2017. (inside.beer, 4.8.2017)
Before the closure, Anchor had already halted the production of its popular Christmas Ale and stopped national distribution. (inside.beer, 11.7.2023)
Ulukaya, 51, who built Chobani into America's No. 1 yogurt brand, sees similarities between Anchor Brewing and his earlier success with a failing yogurt factory in New York. He expressed excitement about bringing Anchor back, aligning it with San Francisco's history.
Although not a brewer, Ulukaya believes the brewery's building and equipment are in good shape. He envisions restarting operations soon, likening it to pressing play on a paused movie.
The revived brewery will feature a significant tasting room, with potential plans for additional venues. Ulukaya's goal is to first reestablish Anchor in the Bay Area and eventually expand distribution, possibly requiring a second brewing facility.
“Anchor is a brand everyone should have — the people of San Francisco first, but not just the people of San Francisco,” Ulukaya said.
Next to Greek yogurt, Ulukaya expanded his business into coffee last year by purchasing La Colombe, a ready-to-drink coffee company, for USD 900 million. The funding for this acquisition was secured through a combination of a newly issued USD 550 million term loan, existing cash reserves, and the exchange of Keurig Dr Pepper's minority equity stake in La Colombe for Chobani equity. (inside.beer, 15.12.2023
