After announcing plans to liquidate, Anchor Brewing Co. has revealed that it is open to a last-minute bid by a group of union workers to purchase the 127-year-old craft brewery.
Respecting the Anchor Union and their team members, Anchor spokesperson Sam Singer stated that they would gladly consider a bona-fide, legally binding offer from their employees, provided it includes a verifiable source of funds. However, time is running out.
The union workers had made their intention to bid known to Anchor last week. According to VinePair’s report, union official Pedro de Sá expressed that they are not seeking a handout or charity, but simply a fair chance to continue their jobs, produce the beer they love, and preserve this beloved institution.
Singer mentioned that approximately two dozen investors, including the union, have shown interest in purchasing some or all of Anchor’s assets.
Excitingly, anchor employees tweeted that progress is moving “extremely fast,” as they work on raising funds and finding the most effective approach.
In 2017, Anchor Brewing Co. was acquired by Japan’s Sapporo Holdings Ltd. due to declining sales and financial losses. Amidst the alternative of bankruptcy, Anchor announced on July 12 that it would cease operations and sell its assets.
Remarkably, if the employees can present a successful bid, it will mark the second time that Anchor Brewing Co. has been saved from dire financial circumstances. In 1965, just before its closure, Fritz Maytag, heir of the laundry-appliance empire, purchased the brewery and revitalized its traditional brewing process, leading to decades of local popularity.