San Francisco based Anchor Brewing sold to Sapporo

SAN FRANCISCO (KGO) -- San Francisco based Anchor Brewing is being acquired by Japanese beer company Sapporo.

RELATED: San Francisco brewery hopes to expand with sale to Japanese beer maker

Both companies have a lot of history - in fact, they're both more than 100-years-old. Anchor Brewing is known best in San Francisco for its famous Anchor Steam beer that's credited for starting the craft beer movement in the U.S.

Saporro said in a statement that acquiring Anchor Brewing is "expected to accelerate growth in the U.S."

Saporro has been targeting North America since 2006 after acquiring some Canadian brands. The price of the deal hasn't been revealed.