Old Dominion Brewing Co. sold to management

Modern Brewery Age,  March 20, 2006  

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Old Dominion Brewing Co. has announced that the brewery will be sold to a team of current managers. Old Dominion president Jerry Bailey says the company's board has agreed to terms with Old Dominion director of marketing Terry Fife and business partner Kip Olson. On completion of the sale, Olson and Fife will assume management of Old Dominion. Bailey will remain with the company on a part-time basis.

Olson has been a managing partner at the Capital Grill in Tyson's 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," Fife said. "We hope we can continue Jerry Bailey's amazing legacy."

"Jerry has done a very good job of developing his brands," said Bob Wilson, beverage analyst with the Alpha Group of Annapolis, MD. "The fact that he had strong Anheuser-Busch wholesalers in Northern Virginia certainly helped."

Olson and Fife said they have few changes planned for the company. "Kip and I feel we have some of the finest beers and brewers in the country," Fife said. "We expect that both will remain intact for the foreseeable future."

Jerry Bailey founded Old Dominion in 1989. The company now produces 20 beer brands and three soda brands. Production was 27,500 barrels in 2005, and Old Dominion products are widely available through the Mid-Atlantic region.

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