SAN FRANCISCO (AP) — Craft beer pioneer Anchor Brewing Co. has been purchased byHamdi Ulukaya, founder of Chobani yogurt.

Purchase price was not disclosed.

The brewing company, established in San Francisco in 1896, announced its closure in July 2023, amid declining sales and increased competition.

Ulukaya said he is excited to be part of the company’s rebirth.

“I have fallen in love with this city, its history, grit and charm.,” Ulukaya said. “I believe brands born in places like this are incredibly special and must be treasured, respected and loved.”

In the 1960s, Anchor was rescued from near-insolvency when it was acquired by Fritz Maytag, sparking a revival in small-scale and local brewing. Japan brewer Sapporo purchased Anchor Brewing in 2017.

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