New Joint Venture, Coastal Brewing Co., to Purchase Old Dominion
Coastal Brewing Co. will be led by Fordham Brewing Co., which holds 51 percent ownership, with Anheuser-Busch holding the minority stake of 49 percent.
05/03/07 Coastal Brewing Co., a new joint venture between Maryland-based Fordham Brewing Co. and minority partner Anheuser-Busch, Inc., announced it will purchase Old Dominion Brewing Co., a Virginia-based craft brewer and brewpub operator with primary distribution in the Mid-Atlantic region of the United States.
As part of the deal, Coastal Brewing Co. will assume ownership, sales and marketing responsibilities for both the Old Dominion and Fordham brands, including Dominion Ale, Dominion Lager, Oak Barrel Stout, Fordham Copperhead, Fordham Lager, Oyster Stout and others. Coastal Brewing Co. also assumes ownership of the Old Dominion brewery and Old Dominion Brewpub, both located in Ashburn, Va.
Bill Muehlhauser, chief executive officer of Fordham Brewing Co., will serve as managing partner for Coastal Brewing Co. Coastal Brewing Co. has hired Scott Zetterstrom as a vice president of brewing operations to oversee brewing of the Old Dominion and Fordham brands. Zetterstrom previously served as head brewmaster for Old Dominion and most recently worked with Fordham as an independent brewing consultant. Coastal Brewing Co. also has hired Barry Newmiller as vice president of sales and marketing. Newmiller previously was a regional sales manager for InBev USA.
Additionally, effective April 1, 2007, Anheuser-Busch will become the master distributor for the Old Dominion and Fordham brands, giving Coastal the benefit of Anheuser-Busch's logistical expertise in managing distribution and access to more independent and chain retail accounts in the Mid-Atlantic region.
"I'm proud to entrust the wonderful beers we have brewed at Old Dominion since 1990 to Fordham and Anheuser-Busch," said Jerry Bailey, founder and president of Old Dominion Brewing Co. "Under Coastal's stewardship, the quality of Old Dominion brands will be protected and there's no limit to what they can accomplish."
Coastal Brewing Co. will be led by Fordham Brewing Co., which holds 51 percent ownership, with Anheuser-Busch holding the minority stake of 49 percent.
"We are eager to expand the distribution of our Fordham brands through Anheuser-Busch's wholesaler network and are looking forward to working with the company through this alliance," Muehlhauser said. "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."
