Will the Chobani boss acquiring Anchor Brewing lead it to success?

Anchor Brewing Co has been acquired by Chobani yogurt founder Hamdi Ulukaya for an undisclosed sum. But will it succeed?

Speaking about the purchase and his love of San Francisco, Ulukaya said in a statement: “I have fallen in love with this city, its history, grit and charm. I believe brands born in places like this are incredibly special and must be treasured, respected and loved.”

The brewery, which was established in San Francisco in 1896 and has long been cited as a pioneer of the craft brewing scene, announced its closure last year amid declining sales and increased competition from other drinks categories.

In the 1960s, Anchor was acquired by Fritz Maytag which led to a revival in small-scale and local brewing. Then, in 2017, Japanese brewer Sapporo bought the business for US85 million.

Last year, brewery employees hoping to save the business in what had turned into a brewery garage sale of assets and attempted to salvage its history and recipes and began a petition to salvage the business before making a play to buy the company, but to no avail.

According to reports, Shepherd Futures, the family office of Chobani CEO and founder Ulukaya, now owns the assets of Anchor Brewing.

Ulukaya, who was reportedly raised in eastern Turkey founded Chobani in 2005 after moving to the US. Since then, the New York-based business has expanded beyond yogurt to milk, creamers and other drinks.

The new deal, according to the San Francisco Chronicle, will save the business’s flagship Anchor Steam Beer, which has been made since before 1900 as well as the brewery’s popular Christmas Ale and Ulukaya has already said that he wants to restore the brewery entirely and start production again.

Ulukaya will have to get permits and paperwork in order before getting the brewery back into operation, but told the Chronicle: “Let’s get back to work. Let’s bring it back to life. I don’t want to sit around” and asked: “Wouldn’t it be amazing to get it going in time to make the Christmas ale this year? That would be awesome.”

Ulukaya, who also owns the La Colombe coffee company alongside his yogurt empire, does not bring experience from the brewing industry but has already stated his best intentions and has revealed he will be consulting with long-term employees of Anchor giving confidence to beer fans that the heritage of the brand will live on.