San Francisco-based company that pioneered craft beers open to buyout from employees
Jul 23, 2023, 4:16 PM | Updated: 5:00 pm
SAN FRANCISCO (AP) — Anchor Brewing is open to a purchase offer from its employees but warned that time is running out as the 127-year-old trailblazer of craft beers prepares to cease operations, the San Francisco company said in a statement over the weekend.
Spokesman Sam Singer confirmed Saturday that Anchor Brewing Company had received an email from Anchor’s union representative that workers are launching an effort to purchase the brewery. The effort is on behalf of a group of employees and not the union itself.
He said the company would “gladly consider” an offer should they make one that includes “a verifiable source of funds.” But Singer warned that time was running out and the company will move ahead with liquidation in early August.
The interested workers said on social media Saturday that things were moving fast and promised more information when available.
“Overwhelmed with the responses for help. We are working behind the scenes to try and figure out the best possible way to raise funds and actually do this,” the group said.
Anchor Brewing, which was sold to Japanese brewer Sapporo Holdings in 2017, stunned beer lovers when it announced earlier this month that it would discontinue the brand amid declining sales and tough economic conditions.
Two dozen investors and individuals have expressed interest in acquiring some or all of the brewery, Singer told the San Francisco Chronicle last week. He said any decision to sell would be made by liquidators.