Deals
Anchor Steam Beer Snapped Up by Japan's Sapporo in U.S. Push
- Company to pay about $85 million for San Francisco brewer
- U.S. expansion may help offset slowdown in Japanese beer sales
A neon sign advertises Anchor Steam beer in San Francisco on May 13, 2013.
Photographer: Robert Alexander/Getty ImagesThis article is for subscribers only.
Anchor Brewing Co., a century-old San Francisco brewer that helped pioneer the craft-beer movement, will be acquired by Sapporo Holdings Ltd., part of a push by Japanese beverage companies to seek growth on U.S. soil.
The business, best known for Anchor Steam beer, fetched about $85 million in the transaction, which is slated to close by the end of the month.