US: A-B forms JV to snap up Old Dominion

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Anheuser-Busch has teamed up with Maryland-based craft brewer Fordham Brewing Co. to buy its long-rumoured takeover target Old Dominion Brewing Co.

A-B and Fordham has formed a joint venture Coastal Brewing Co. to seal the acquisition of Old Dominion, a craft brewer based in the state of Virginia.

The deal, announced late on Friday (2 March), comes after months of speculation linking A-B with Old Dominion, which distributes brands including Dominion Ale in the mid-Atlantic region of the US.

Coastal, in which A-B will hold a 49% stake, will handle a slew of Dominion and Fordham brands, including Fordham Lager and Oyster Stout. The acquisition, for an undisclosed sum, will also see Coastal buy the Old Dominion brewery and Old Dominion Brewpub, both located in Ashburn, Virginia.

Dave Peacock, A-B's vice president of business operations, said Old Dominion and Fordham are two of the "leading craft brewers" in the Mid-Atlantic.

Jerry Bailey, founder and president of Old Dominion, said: "Under Coastal's stewardship, the quality of Old Dominion brands will be protected and there's no limit to what they can accomplish."

Fordham CEO Bill Muehlhauser, who will become managing partner at Coastal, said the venture would look to boost the distribution of the Fordham brands through A-B's nationwide wholesaler network.

Sectors: Beer & cider

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