Anchor Brewery’s owners — Tony Foglio and Keith Greggor – took a look at the competitive landscape, noted the intensified competition in the craft beer space (they called it “difficult market conditions”) along with declining volume and sales and decided it was time to exit the beer business.
But Greggor, who was ceo of the brewery and its associated distillery, saw much to like in the craft spirits business – mainly, more potential. Right off the bat, Anchor Distillery generates about 30% more revenue than Anchor Brewery, he told Brewbound. Plus, intensifying beer competition makes it hard to pass on healthcare costs even as margins are getting squeezed.