by Bob Walsh
Last year Japanese brewery giant Sapporo shut down Anchor
Steam Beer, which has been a S.F. fixture for 137 years. It was Oscar
Wilde's favorite beer when he was touring the U.S. before he made some
really bad choices and became an outcast.
The
brand and assets are being sold and it is hoped by local fans that it
will be bought up by an independent producer and not by another
corporate behemoth.
Sapporo
bought Anchor Steam back in 2017 for $85 million. It is currently
under an "assignment for the benefit of creditors", a legal situation
which is not quite bankruptcy. All 61 employees lost their jobs when it
closed down six months ago.
There
are several bids in for the brand, including one by the former
employees and one by a group of S.F. investors, both of who want to
keep the operation independent. At least some of the bidders and
interested only in the brand name and intellectual property. It is
estimated the real estate is worth about $40 million.
The
brewing of steam beer is different from other sorts of brewing. It
takes up a lot of space. The locals intend to cut back on production
and distribution to about 20,000 barrels per year and distribute only
regionally. At it's height under Sapporo they shipped 150,000 barrels a
year all over the U.S. Shipping beer is expensive.
I was never a big beer drinker but I did like Anchor Steam Beer.
A decision will be made as to the disposition of assets by the end of this month. I will try to keep you posted.
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