News Briefs for June 3, 2024
June 3, 2024•Shepherd Futures, the family office of Chobani CEO and founder Hamdi Ulukaya, has acquired San Francisco’s Anchor Brewing Company for an undisclosed sum. Former owner Sapporo, which had acquired the brewery for $85 million in 2017, ceased Anchor’s operations last year after scaling back distribution outside California and initially being unsuccessful in finding a buyer for the business. Now, Ulukaya says he intends to bring back the iconic brand, which was founded in 1896 and is best known for its Anchor Steam beer.
•Suntory Holdings denied a Wall Street Journal report over the weekend that it’s in talks to acquire Boston Beer Co. The WSJ had reported that a deal could come at a premium to Boston Beer’s $3 billion valuation, adding that talks were in the early stages. But Suntory subsequently told Bloomberg it’s not in discussions toward an acquisition of the U.S. brewer.
•Diageo is adding 375-ml. and 50-ml. bottle sizes to its high-end Don Julio 1942 Tequila brand. The smaller sizes of the luxury Tequila retail at $90 and $15 respectively. They’re currently in select markets, with full national availability and a presence on ReserveBar slated for the coming months. Don Julio grew 15% to just under 2.4 million cases in the U.S. last year, according to Impact Databank, and has added almost 1 million cases since 2020.
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