Unionized workers at Anchor Brewing Co., the 127-year-old San Francisco brewery that announced last week that it would close operations, are trying to buy the company to prevent its liquidation.
In a statement, Anchor spokesman Sam Singer said a union spokesman sent the company an email stating that “the workers at Anchor Brewing met, discussed and decided to make an attempt to purchase the brewery.” The union spokesman added that the purchase was being driven by an “unidentified group of Anchor employees,” not the union itself, Singer said.
“Given our deep respect for Anchor Union and our team members, we would like to consider this if our employees submit an honest, legally binding offer to purchase the company that includes a demonstrable source of funding,” Singer said.
Anchor union members are now planning ways to raise the funds needed to buy the company: workers believe the effort will be “far greater than a gofundme,” the union wrote in one tweetand employees “want to be as calculated as possible.”
“I am overwhelmed by the responses to help. We are working behind the scenes to find the best possible way to raise funds and actually do so,” the union tweeted.
Overwhelmed by the responses to help. We are working behind the scenes to find and actually do the best possible way to raise funds. We believe this is way bigger than a gofundme and want to be as calculated as possible. Information will follow as soon as we have it!
— Anchor Union (@anchorunionSF) July 22, 2023
The company announced the closure on July 12, stating that factors such as product cost and a “highly competitive craft beer market” coupled with Anchor’s “historically expensive steam brewing technology” made it “no longer sustainable” to operate the business. The notice period of 60 days was communicated to the employees on the same day. The news rocked San Francisco’s beer lovers, sparking a 4,000% increase in the company’s beer sales nationwide in the days following the announcement.
Though the company is open to an employee purchase, Singer said that “time is running out” and that Anchor will continue to move forward with the transfer of its assets through a creditor assignment in early August.