Japan's Sapporo Holdings buys over US brewer

Tokyo

ANCHOR Brewing Co, a century-old San Francisco brewer that helped pioneer the craft-beer movement, will be acquired by Sapporo Holdings Ltd, part of a push by Japanese beverage companies to seek growth on US soil.

The business, best known for Anchor Steam beer, fetched about US$85 million in the transaction, which is slated to close by the end of the month.