The San Francisco Chronicle reported that Anchor Brewing Co. in San Francisco, best known for their steam beer, will close after 127 successful years. The brewery lost millions of dollars every year due to sales that had declined since 2016. According to an announcement made by San Singer, spokesperson for the company, KTVU News cites the company’s announcement. The company had given employees 60-day notices with the intention of providing transition support and separation package in accordance with company policies and practices. Frederick Louis Maytag III purchased the brewery in 1965 to save it from closing. Sapporo 2501 + 0.033% acquired the influential Potrero Hill brewery in San Francisco, California in 2018.