After nearly a year of drama that included a contested sale, San Francisco’s legendary craft beer institution, Toronado, is under contract with a new buyer.
Bill Lewis, a San Francisco resident of three decades and a regular of the beloved Haight Street bar, will serve as the new owner of Toronado along with his brother-in-law, Wall Pringle, according to a news release shared with SFGATE on behalf of Lewis. Founder Dave Keene, who owned the bar for 39 years and turned it into an internationally recognized destination for craft beer enthusiasts, will remain connected to the bar as an ambassador following the sale.
“The history, the atmosphere, and the community have to remain intact,” Keene said. “I want to properly pass the torch.”
The transaction is built on a single overriding priority: “Preserving everything that makes Toronado the Toronado,” the news release said. The business will continue operating as usual throughout the transfer of ownership, with no immediate changes planned to staff, programming or overall direction.
“It is an honor to become the new owner of Toronado, and I look forward to sustaining it for the next 40 years. As a first-time small business owner I’m excited to learn from the staff and hear from customers,” Lewis said in the news release.
Lewis has worked in finance and technology for more than two decades. He is a graduate of UC Berkeley and earned a doctorate at Stanford University. His professional experience includes working as the chief financial officer of Catch+Release, a content licensing marketplace and technology company. Before that, he worked at Zynga and Facebook. He’s also a longtime SF Giants fan. Pringle, his brother-in-law, has a background in beer. He is a certified Cicerone and has worked as a bartender, the news release said.
Last year, Toronado made headlines when a high-bidding cryptocurrency investor came forward with plans to purchase the storied bar and launch a YouTube channel in its name. That deal, though, fell through, making way for Lewis and Pringle to make an ownership bid about a year later.
This is a developing story.