The First Craft Brewer Just Got Bought Out. Can the Industry Still Survive?
Is nothing sacred? America's "first and oldest" craft brewer is no more. Anchor Brewing, which was founded in San Francisco in 1896, agreed to be bought out earlier this month by Japan's Sapporo for $85 million.
Following the purchase by Anheuser-Busch InBev (NYSE: BUD) of Wicked Weed, Karbach Brewing, and many others; Constellation Brands' (NYSE: STZ) acquisition of Funky Buddha Brewing and Ballast Point Brewing; and Heineken's buyout of Lagunitas, the loss of yet another craft beer to a megabrewer isn't much of a surprise. But when you take out such an icon of the industry, it may be time to ask whether the craft-brew industry itself can survive.
Image source: Anchor Brewing.
Source: Fool.com
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