Old Dominion Brewing Co., the Washington D.C. area’s first microbrewery, has announced that the company will be sold. 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.
Jerry Bailey who founded Old Dominion Brewing Co. in 1989 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. Terry Fife has been with Old Dominion since 1996.
“We are fortunate to be purchasing a company with great products, a great reputation, and tremendous brand recognition,” said Fife. “We hope we can continue Jerry Bailey’s amazing legacy”.
Olson and Fife also point out that they have few changes planned for the company. “Kip and I feel that we have some of the finest beers and best brewers in the country. We expect that both will remain intact for the foreseeable future”, adds Fife.
Old Dominion now produces more than 20 beers and three sodas. With a production of 27,500 barrels of beer in 2005, Old Dominion is one of the 50 largest breweries in the U.S. by volume and has been awarded 13 medals at the annual Great American Beer Festival.