Chobani Yogurt’s Billionaire CEO Just Bought Anchor Brewing — Here’s How He Plans to Revive the 128-Year-Old Brand

Less than a year after San Francisco's Anchor Brewing Co. announced its closure — to the dismay of fans — the company has found a surprising new owner in Chobani Yogurt founder Hamdi Ulukaya. On Friday, Ulukaya announced that he purchased the 128-year-old brewery for an undisclosed sum. Best known for its range of Anchor Steam and Christmas Ale beers, Anchor is regarded the first craft brewery in America, dating its roots back to the gold rush. Ulukaya says he'll attempt to rehire as many former employees as possible and reopen as soon as he "gets permission from the city and alignment with the community," according to an interview with The San Francisco Chronicle. Born to Kurdish parents in Turkey, Ulukaya began his career with the opening of a feta cheese factory in 2002. Three years later, he launched Chobani from a defunct yogurt factory in upstate New York. The lucrative venture has since grown his net worth to approximately $2.5 billion.

“I am humbled and excited to be part of this city and its rich community of people, who have a spirit that is special and unique. I have learned so much about Anchor and its role in San Francisco’s journey, and I look forward to doing whatever I can to support this amazing story of revitalization," Ulukaya shared in a news release.

The past few decades have been rife with ups and downs for the historic brewer. Anchor briefly shut its doors in 1959 before being bought out and reopened a year later, subsequently teetering toward insolvency until it was bought by Fritz Maytag in the mid-1960s (coincidentally similar to Ulukaya, Maytag also got his start in the dairy industry). Maytag — who has been referred to as the "godfather" of craft beer — guided the company toward a profitable renaissance. In 2017, the brewer was acquired by Sapporo for $85 million. In the following years before Anchor's unceremonious closure, employees blamed declining sales on internal disputes and alleged cultural differences. Workers made a last-ditch effort to buy the brewery after its announced closure but were ultimately unsuccessful.

“Sapporo has made rookie mistakes left and right, they have destroyed what this brand was,” an anonymous Anchor employee told Vine Pair. “Upper management ran this company not understanding how craft brewing works in America.”

Tapping into the brand's San Francisco roots, Ulukaya has emphasized his willingness to build back stronger than ever in partnership with the surrounding community. In a video posted to X, the Chobani founder said he sat down with four ex-employees to better understand Anchor's legacy and ethos. A formal re-opening date has yet to be announced.

I am honored to work with the people of San Francisco to bring @AnchorBrewing, this dream, back to life. pic.twitter.com/xquA6bGjsk

— Hamdi Ulukaya (@hamdiulukaya) May 31, 2024

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