Old Dominion Brewing Co, has been sold in a joint venture between Maryland-based Fordham Brewing Co. and Anheuser-Busch it was announced on Friday.
The new company, to be called Coastal Brewing Co., will sell and market Old Dominion and Fordham brands.
Coastal also assumes ownership of the Old Dominion brewery and Old Dominion Brewpub, both located in Ashburn, Virginia.
“We are excited about the opportunities Coastal Brewing Co. will provide to both the Old Dominion and Fordham brands and introducing them to even more beer lovers in the Mid-Atlantic states,” William Muehlhauser, chief executive officer of Fordham Brewing Co., said in a statement.
Muehlhauser will serve as managing partner for the new company. He is the founder of Rams Head Tavern in Annapolis, which has expanded to include Rams Head Tavern at Savage Mill in Howard County and in Rehoboth Beach.
Starting April 1, Anheuser-Busch will become the master distributor for the Old Dominion and Fordham brands. Fordham owns 51 percent of Coastal, with Anheuser-Busch holding 49 percent, according to the announcement.
A sale price was not announced, but Old Dominion President Jerry Bailey, who owned 22 percent of the brewery, said several weeks ago that he believed Old Dominion was worth $4 million to $6 million.