Picture: ISTOCK
Picture: ISTOCK

Tokyo — Anchor Brewing, a century-old San Francisco brewer that helped pioneer the craft-beer movement, will be acquired by Sapporo Holdings, part of a push by Japanese beverage companies to seek growth on US soil.

The business, best known for Anchor Steam beer, fetched about $85m in the transaction, which is slated to close by the end of August.

The deal reflects mounting pressure by craft brewers to find deep-pocketed partners as they face an increasingly crowded market. For Sapporo, the challenge is coping with a slowdown in its home country.

The Anchor purchase also helps open more channels to sell existing brands.

Until now, the company has sold beer in the US that was made in Canada, Sapporo Holdings president Masaki Oga said in a briefing with reporters last Thursday.

Bloomberg

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