Maximilian Karl Emil Schaefer was born in Wetzlar, Lahn-Dill-Kreis, Hesse, Germany a town in which he learned the art of beer brewing. He emigrated to America in 1840 and joined his brother Frederick in the Sebastian Sommer brewery on Nineteenth and Broadway in New York City. Two years later the brothers pooled their money and bought out their employer and renamed the firm after themselves. The F. & M. Schaefer brewery would go on to become one of New York City's largest and best-loved firms. Schaefer retired from the business in 1889 but retained a position at the brewery as an informal advisor. When he died on the 23rd of March, 1904 he was considered the oldest lager beer brewer in the United States. His beer is still being made today.

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Associated Breweries