Some history. Yes, the company was originally founded in 1848 but not under that name. The founder was Friedrich Christian Schmidt, and the Schmidt family took in Otto Guttenberger as a partner in 1867 to become “Schmidt and Guttenberger”. By the turn of the century the company name had become the “Bayerische Brewery Company”. In 1922 the business sold a large part of its shares to Hans Kanter and was renamed "Walsheim Brewery AG".
In 1934 the company’s main shareholder was displaced on the board of directors by the National Socialist German Workers' Party and the Nazis (seemingly deliberately) drove the brewery into bankruptcy by the end of 1938. I don't know if there was any 'anti-semitism' acting as a driver or even whether the company had any Jewish connections.
The town of Walsheim was evacuated in September 1939 due to its proximity to the French border and the unoccupied brewery suffered some damage from shelling by French forces. The extent of the damage was exaggerated by the Cologne Brewery Association, who prevented it from re-opening in June 1942 and directed its former customers to other breweries in the region. Removal of its equipment began soon after, the premises were sold, and most of what was left was destroyed in an allied bombing raid in 1945.
After the war, partial renovation of the site saw it used as production or storage facilities for a number of different companies until everything was demolished in the winter of 1981/2. Despite the absence of any remaining brewing facilities, the value of “Walsheim” as a brand was recognised by Paul Weber of the Karlsberg Brewery in Hamburg and they acquired the trademark rights in 1946, producing beer under the Walsheim name in barrels, mainly for export to France.
The chronology of the company suggests your medal is likely from between 1922-1938. I would assume these were given to customers as a promotional novelty, to be used as watch or key fobs.
