ONE of the most famous names in British brewing, T&R Theakston, is on course to be handed back to its founding family after nearly 20 years.

Scottish Courage announced that it is in advanced negotiations with members of the Theakston family to return the company, including the North Yorkshire brewery and all associated ale brands, to their control.

The Masham brewer will be acquired by the heirs of the original founder, Robert Theakston, who set up the brewery in 1827.

Leading the business as executive directors will be Simon Theakston and Collin Wood. Mr Wood is a former managing director of Theakston. Also joining the board will be Nick, Tim and Edward Theakston.

Simon Theakston, the great, great grandson of the founder, said: "This is a tremendous opportunity for the family firm of T&R Theakston.

"We are all 100 per cent committed to growing the Theakston company and protecting what is a very fine heritage for producing one of the best quality ales on the market."

Theakston employs 20 staff in Masham who will be responsible for brewing, sales and marketing.

The company is one of the few brewers in the country that still employs a cooper crafting wooden casks. Beers produced by Theakston include Best Bitter, XB, Old Peculier, Mild, Black Bull Bitter and Cool Cask.

The completion of the deal is expected at the end of the month.

Mike Benner, head of campaigns at Camra (Campaign for Real Ale), said: "Theakston coming back into family ownership and becoming an independent brewer once again is certainly a good thing."