Anchor Brewing Company announces that Sapporo Holdings Limited will be acquiring the company with plans to continue Anchor’s traditions and legacy in San Francisco while growing the brand globally.
Anchor Brewing Company’s flagship beer, Anchor Steam® Beer, has been brewed in San Francisco since 1896. Sapporo has a long-standing history in Japan dating back to 1876 and an appreciation for tradition, craftsmanship and provenance which are all fundamental tenets of Anchor.
“Sapporo shares our values and appreciates our unique, time-honored approach to brewing,” said Keith Greggor, Anchor Brewing Co-Owner. “With both a long-term vision and the resources to realize it, Sapporo will keep brewing Anchor’s beers in San Francisco while expanding to new markets worldwide.”
“Anchor Steam Beer is a San Francisco original, inspiring a new generation of brewers and beer lovers around the world,” said Masaki Oga, President and Representative Director, Sapporo Holdings LTD. “Both companies share a brewing philosophy backed by long histories and this transaction enables both Sapporo Group’s US business and Anchor Brewing Company’s global business to make a further leap forward.”
More than 50 years ago, Anchor started the modern craft beer movement with a series of innovations. Anchor brewed the first post-prohibition Porter, ignited todays IPA boom when it introduced dry-hopping and the cascade hop and created the industry’s first seasonal beers. Since then, the emergence of thousands of craft breweries within the United States and around the world has created the need for scale and synergies to compete in a growing global market for craft beer.
Anchor’s experienced management team will continue to run the business but now benefit from superior financing and additional resources. Sapporo is committed to preserving and maintaining Anchor’s operations in San Francisco, including the historic Potrero Hill brewery. Sapporo will invest in the brewery to improve production efficiencies and will strengthen all aspects of management and production to ensure the highest quality of beer is consistently delivered. In addition, Sapporo is fully supportive of Anchor’s new public taproom concept that will be opening soon. Sapporo will also export Anchor to new international markets using its global distribution resources.
The transaction is expected to close on August 31st; subject to customary closing conditions. Terms are not disclosed. Anchor Distilling Company is not part of this transaction and will now become a fully independent company in its own right.
Sapporo first made its way to America in 1964. In 1984, SAPPORO U.S.A., INC. was founded to help preserve our high standard of quality throughout the country. Today, Sapporo stands alone as the best-selling Asian Beer in the United States for more than 30 years.
Sapporo Holdings Limited (hereinafter “Sapporo Holdings”) will acquire all of the equity interest of Anchor Brewing Company (California, US; hereinafter “Anchor”).
The Sapporo Group plans to further expand its US beer business by adding Anchor, a prominent beer manufacturer which produces the leading brand “Anchor Steam® Beer,” to its group.
- Equity transfer agreement
Sapporo Holdings will enter into an equity transfer agreement with Anchor’s parent company Anchor Brewers and Distillers, LLC (hereinafter “ABD”). The transaction will be conducted through Sapporo Holdings’ subsidiary, to be established for the purpose of entering into the agreement. Sapporo will obtain all of ABD’s equity interest in Anchor which will join its group companies.
Execution date of agreement: August 3, 2017 (Thursday) Equity transfer date: August 31, 2017 (Thursday)
- Rationale behind Agreement
Last year, the Sapporo Group formulated the new Long-Term Management Vision “SPEED 150” through 2026, the year marking the Group’s 150th anniversary since its founding. The vision set forth in Speed 150 is for the Sapporo Group to be a company with highly unique brands in the fields of “Alcoholic Beverages,” “Food,” and “Soft Drinks” around the world.
Regarding its “Promote Global Business Expansion” policy, a key driver of its group growth strategy, Sapporo Group is pushing forward a distinctive plan that designates North America its business base and the rapidly growing “Southeast Asian” region as its highest-priority markets. In the US where the SAPPORO brand has maintained its position as the No. 1 Asian beer in the country over 30 years, the Group has been considering expanding its beer business through the acquisition of a new brand as well as further growing the SAPPORO brand.
Anchor is a prominent and historic US beer producer founded in 1896 in San Francisco. “Anchor Steam Beer,” its flagship brand, is said to be an icon that ignited the current craft beer boom in the US. Armed with its strong brand power primarily in San Francisco, where it is based, as well as other areas across the US, it has been enjoyed by countless beer lovers throughout the years.
The addition of Anchor’s strong brand power and network to the Sapporo Group’s US beer business portfolio through the conclusion of this agreement is expected to accelerate its speed of growth in the US.
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