Ann Arbor Brewing Company created this brand and label sometime between 1947 and 1949. The brewery was established in 1933 and operated at 416 South 4th Street, between Liberty and Madison, in Ann Arbor, MI. The building still stands today, as seen in this Google Street View. Various breweries operated at this location since 1861.
If you’re interested in the history of brewing in Ann Arbor, pick up a copy of Ann Arbor Beer: A Hoppy History of Tree Town Brewing by David Bardallis. A few of the labels on this website were included in the book.