: San Francisco–based craft-beer pioneer Anchor Brewing is closing down after 127 years: report
Anchor Brewing Co., the San Francisco brewery best known for its steam beer, is shutting down after 127 years in business, the San Francisco Chronicle reported. The brewery was losing millions of dollars a year as sales had been declining since 2016. The company gave employees 60-day notices “with the intent to provide transition support and separation packages in line with company practices and policies,” according to the announcement by company spokesperson San Singer, as cited by KTVU News. The brewery was founded in 1896 and purchased by Frederick Louis Maytag III in 1965, saving it from closure. The influential brewer on San Francisco’s Potrero Hill was dealt in 2018 to Japan’s Sapporo JP:2501.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.