San Francisco's Anchor Brewery, which dubs itself as America's "first and oldest" craft brewery, announced its acquisition by Japan's Sapporo Holdings on Thursday, reports the SF Gate.
The popular and historic company, established in 1896, is yet another example of the trend of craft breweries selling out to global companies.
Some worry that the deal will change the way the brewery operates or how it makes their trademark "steam beer," according to the SF Gate. However, Anchor representatives told the website that its beer would continue to be brewed at its Potrero Hill headquarters, and the recipes would remain unchanged.
The brewery's President and CEO Keith Greggor said the deal was a year in the making, and Sapporo was the best fit, according to the online news outlet.
"When you take a brand like Anchor, its very soul exists in the heart of San Francisco," Greggor said. "Of all the people we spoke to, [Sapporo] respected Anchor the most, what it stood for and the importance of its connection with San Francisco."
Sapporo focuses on alcoholic beverages, food and soft drinks, and has been looking to further expand their share of the U.S. beer market.
"The addition of Anchor's strong brand power and network to the Sapporo Group's U.S. beer business portfolio through the conclusion of this agreement is expected to accelerate its speed of growth in the U.S.," Sapporo said in a press release Thursday.
Anchor Brewery and Sapporo did not respond to CNBC's request for a comment.
Read the full SF Gate story here.