I know quite a bit about Anchor, who used to be an SF institution. After the new Giants baseball park was built in 2000 Anchor as an independent local company were going to build an additional brewery there in 2013.
https://www.sfgate.com/business/bottomline/article/Anchor-Br...
Sadly this never came to fruition due to the big beer bust a few years later. Lagunitas sold out to Heineken, Anchor to Sapporo etc - there was a big drop off in sales due to all the endless 6 month lifespan craft IPAs that split the market (many of these went bust too).
Lagunitas and Anchor are now a shadow of their former selves after cost cutting etc. Keith Greggor's innovations when he was running Anchor are now a distant memory. The recent mediocre rebranding of Anchor is an indicator of how out of touch Sapporo are with the market.
Killing what doesn't make enough money. To a corporation, a product line that sells reliably and consistently year after year is a failure unless it can be turned into something that pushes the stock price ever upward.
I think craft beer fans would argue that their Christmas Ale is iconic and provides much of their respect as a brand and that discontinuing just pushes the brand further into irrelevancy.
Pulling back to California makes sense of sales aren’t strong enough, but also killing off a beloved brand seems that it could hurt in the long run.
Conspiracy stuff: just removing competitors outright and taking advantage of inroads to sell what they really want to sell (their own brands).
A similar thing I saw: Asahi was in charge of Budweiser distribution in Japan. Absolutely miserable sales (not that I like Budweiser, or would drink it by choice), almost no presence. AB got the rights back to sell it, and now Budweiser is a reliable presence in many places and I see it out there in ways I never did.
My head canon is that Asahi got the distribution rights purely to slow roll it and make it so that AB would have no reason to build up a local presence. That way Asahi protects its local brands and simply needs to send some executive once a year to be like "hey I dunno nobody seems interested in this drink"
Killing what doesn't make money? If this was profitable what exactly are the 'corporate overlords' achieving here?