Anchor Brewing Co., the iconic craft brewery in San Francisco, may have a chance to avoid liquidation thanks to a potential bid by a group of union workers. The 127-year-old company has expressed openness to considering a last-minute offer by its employees to buy the brewery. Anchor spokesperson Sam Singer stated that if the employees present a genuine and legally binding bid with verifiable funding, the company would gladly consider it. However, time is running out, and the deadline for the bid is approaching.
Last week, a group of Anchor employees approached the company expressing their intention to make a bid to save the brewery. The union official, Pedro de Sá, emphasized that they were not seeking a handout or charity. Rather, they simply wanted a fair opportunity to continue their work, produce the beer they love, and preserve this historic establishment. Singer revealed that around two dozen investors, including the union, have shown interest in purchasing some or all of Anchor’s assets.
The employees are working diligently to raise funds and determine the most viable way to acquire the brewery. Anchor employees have described the situation as moving extremely fast as they navigate the complex process.
Anchor Brewing Co. holds a significant place in brewing history as it is widely regarded as the nation’s first craft brewery. In 2017, the company was sold to Japan’s Sapporo Holdings Ltd. due to declining sales and financial losses. However, on July 12, 2021, Anchor announced its decision to cease operations and sell its assets as an alternative to bankruptcy. Former workers claimed mismanagement as the cause of the company’s decline.
If the employees are successful in their bid, it would mark the second time Anchor Brewing Co. has been saved from dire financial circumstances. The brewery narrowly avoided closure in 1965 when Fritz Maytag, scion of a laundry-appliance family, purchased it at the eleventh hour. Maytag revitalized the traditional brewing process, leading the brewery to experience decades of unparalleled local popularity.
The impending bid from a group of dedicated employees represents a glimmer of hope for Anchor Brewing Co. and its rich brewing legacy. By potentially securing the necessary funds to acquire the brewery, the employees aim to keep the brand alive and preserve its historic significance. As the deadline approaches, all eyes are on the employees and their attempt to rescue this beloved craft brewery.
