In the summer of 1965, a young Stanford grad named Fritz Maytag frequented the Old Spaghetti Factory, a restaurant in San Francisco's North Beach known more for its eclectic decor, bohemian clientele, and Anchor Steam Beer than its spaghetti. One fortuitous day, as the great-grandson of the founder of the Maytag appliance company sat at the bar enjoying his glass of Anchor Steam, the restaurant's owner, Fred Kuh, mentioned to Fritz that if he liked Steam Beer, he had better hurry down to see the Brewery. Kuh, who had always proudly served just one beer on draught, Anchor Steam, knew that Fritz would appreciate the historic little San Francisco brewery that was about to close its doors forever.

When Fritz arrived at the Brewery on 8th Street, it was love at first sight, somewhat blinding him to equipment that was practically medieval, cleanliness (the most unsung secret to consistently good beer, as Fritz would soon discover) that was not even a low priority, and a Brewery bank balance (as of December 31, 1964) of $128. On September 24, 1965, Fritz bought 51% of the operation—for a few thousand dollars—rescuing Anchor from imminent bankruptcy. That was the easy part, for it would take Fritz the next ten years to turn the ailing Brewery and its Steam Beer around.