One of the most famous names in brewing is set to be sold back to the North Yorkshire family which founded it in 1827.
Theakstons is returning to its original Masham home
Members of the Theakston family are in takeover talks with a subsidiary of
Scottish & Newcastle to return the company to the heirs of founder Robert Theakston.
The original brewery was set up in Masham, North Yorkshire, in 1827 but was sold in 1984.
Simon Theakston, great-great-grandson of Robert, plans to run the brewery which produces famous brand beers including Old Peculier, Best Bitter,
XB, Mild and Black Bull Bitter.
Mr Theakston said: "We are extremely delighted to have been given this
opportunity and we're going to grasp it with both hands.
"It has been in our family for 176 years, with the exception of the last 20.
"I see us now building on a great tradition, with a great range of well-known
Theakstons will be competing with the neighbouring Black Sheep Brewery set up by another family member, Paul Theakston, in the late 1980s.
Mr Theakston added: "We both recognise the importance for Masham of having two breweries, it will be friendly rivalry more than anything else."