Craft beer aficionados in San Francisco have reason to cheer as Anchor Brewing Co., the iconic brewery known for its Anchor Steam and Christmas Ale beers, has been acquired by billionaire Hamdi Ulukaya, founder of Chobani yogurt. The purchase price for the brewery was not disclosed.

Ulukaya, in a statement released on Friday, expressed his excitement to be a part of the company's rebirth, highlighting how Anchor embodies the essence of San Francisco as a vibrant and historic city. He further emphasized his belief in preserving and cherishing brands that are born in such unique locations.

Anchor Brewing Co., founded in 1896, faced uncertainty last year when declining sales and increased competition from canned cocktails, crafted drinks, spirits, and wines led to its closure. However, the brewery was given a new lease on life when Fritz Maytag acquired it in the 1960s, sparking a revival in local brewing. Later, Japanese brewer Sapporo purchased Anchor Brewing in 2017.

Despite efforts by dedicated employees to purchase the company, it was ultimately saved by Shepherd Futures, the family office of Chobani CEO Hamdi Ulukaya. The acquisition now makes Ulukaya the proud owner of Anchor Brewing's assets.

Ulukaya's background resonates with his investment in the craft beer industry. Raised in a dairy-farming family in eastern Turkey, he moved to the United States and founded Chobani in 2005, aiming to recreate the wholesome Greek yogurt of his childhood. Over the years, Chobani expanded its product line to include milk, creamers, and other beverages. The company is based in New York.

With this acquisition, Ulukaya adds a craft beer pioneer to his growing portfolio, believing that Anchor Brewing Co. holds a special place in the hearts of both locals and beer enthusiasts. The revival of this historic brewery under the guidance of Ulukaya promises to bring new opportunities and potentially reignite the passion of beer lovers across the city.

The details regarding future plans for Anchor Brewing Co. have not yet been released, but San Francisco residents and beer connoisseurs eagerly await the next chapter in the story of this beloved brewery.