Wednesday, March 08, 2006

Old Dominion Brewing Company NOT sold

Update: In June 2006, this purchase offer was rejected. No comment or explanation was offered by the principals. An earlier offer by Anheuser-Busch has apparently been reinstated, and, as before, seems to be on track.


It's been several months since my September 2005 posting about a pending sale of a "major regional mid-Atlantic brewery." At that time it would have been improper for me, working for a competitor, to have posted the name of that brewery.

Several reputable sources had told me that Anheuser-Busch had tendered an offer to the Old Dominion Brewing Company in Ashburn, Virginia. President Jerry Bailey rejected the offer, hoping for a buy-out rather than the minority interest that A-B had offered.

And counter offer was indeed tendered and accepted on Tuesday, 28 February.

Here is what has been posted to DC-Beer and to Old Dominion's website, as of this morning, had not posted any official comments.

Old Dominion Brewing Company has Sale on Tap
7 March 2006. Ashburn, VA

Old Dominion Brewing Co., the Washington D.C. area's first microbrewery, announced today that the company will be sold. Old Dominion President Jerry Bailey reports that the company's Board of Directors has agreed to terms with Old Dominion Director of Marketing Terry Fife and business partner Kip Olson. Upon completion of the sale, Olson and Fife will assume management duties of Old Dominion. Bailey will remain with the company in a part-time capacity.

Kip Olson has been a Managing Partner at the Capital Grill in Tysons Corner, VA since 2000. Prior to that, Olson was with the Clydes Restaurant Group for 12 years.

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