A historic moment in the brewing industry as the oldest brewery in America has been saved from closure after 127 years of operation. Chobani founder and CEO, Hamdi Ulukaya, has stepped in to acquire Anchor Brewing Co., securing its future and unveiling plans for a revitalized future.

Ulukaya’s acquisition of the brewery includes the iconic steam beer recipes, the 2.1-acre Potrero Hill campus, and all brewing equipment housed within the warehouses. The exact price of the deal has not been disclosed, but Ulukaya expressed the immense value of a brand like Anchor, emphasizing the rich history, passion, and loyalty associated with it.

In an interview with The San Francisco Chronicle, Ulukaya shared his vision for the brewery’s revival, highlighting his eagerness to bring it back to life. He expressed a desire to swiftly resume operations, pending necessary permissions from the city and discussions with long-time employees.

The billionaire entrepreneur is enthusiastic about the prospect of having the brewery operational in time to produce the traditional Christmas ale later this year, showcasing his commitment to preserving the brewery’s heritage and traditions.

Ulukaya’s interest in Anchor Brewing Co. was piqued last year when news of its closure surfaced. The brewery had faced challenges stemming from economic factors and declining sales since 2016, leading to its temporary shutdown.

The impending reopening of Anchor Brewing Co. under new ownership marks a significant milestone in the industry, signaling a fresh chapter for the historic establishment. As the brewing community eagerly anticipates the return of this iconic brewery, Ulukaya’s dedication to honoring its legacy shines through, promising a bright future for this beloved American institution.