Hello all potential future investors,

We are updating you all on the future of this investment and are still fighting to become a part of what Anchor could be. We have been hard at work trying to navigate through the Anchor Brewing Company sale process and have decided not to put in our bid because of the competing bid amounts.

In the back of our minds, we knew this could be the case, but never dreamed that the competing bids would reach such heights.  Also, because of the level of attention and support we have received, we have continued to imagine other potential outcomes that may involve partnering in some manner with the successful bidder.  We have made our case known throughout San Francisco and the world and received a ton of support. Supporters include Solidarity Ale brewing collaborations, marketing support, your investments, and all the great messages we have received in this process. The City of San Francisco has also shown support, and with the help of the non-profit Project Equity, we have developed a solid business plan as well as relationships with city officials and local leaders in the community.

Additionally, we have been working diligently to create relationships with other bidders to discuss how our experience running the brewery, combined with all of the business planning and relationship building we have done over the past 6 months can be valuable to them if they are the successful bidder.. We have created a variety of plans where we can work collaboratively with whoever purchases Anchor Brewing Company as a Brewery, or portions of the assets to be used for some other purpose. 

Since the outright purchase of the brewery is out of our reach, we continue to hold out hope that we can find a way to work with the potential buyer to create a win-win, protecting the quality of the beer and the quality of the workplace while enabling the potential buyer to realize at least some of its business objectives.  We are discussing these different options with potential buyers and seeing what works for both sides. At this point, our preferred option would include operating as a cooperative in some capacity to keep some key decisions in the hands of workers. 

We are still waiting on some key events to understand where exactly we stand on these negotiations. After the bid results have been publicized, we will be determining the viability of each of these options and will let you know our position. 

That said, some of you have funds in escrow with Wefunder right now. If negotiations do not result in a viable path for the Co-op to move forward, or if our path forward does not include the need for investors, your funds will be returned. You can also withdraw those funds early if you’d like, by going here: https://wefunder.com/Cash

We wanted to be transparent and forthcoming with you all who trust in us enough to invest in the plans we have come up with. We’re looking at a few weeks to a month at the latest for a future update.

Thank you all for your continued support!

In Solidarity,

Anchor SF Cooperative Team