REYES BEER DIVISION SIGNS AGREEMENT WITH LOVELAND DISTRIBUTING COMPANY, INC.
ROSEMONT, IL – October 8, 2018. Premium Distributors of Virginia L.L.C, a Reyes Beer Division
company, has entered into an agreement to acquire substantially all of the assets of Loveland Distributing Company, Inc., headquartered in Richmond, Virginia. The transaction is anticipated to close in early December and will result in an expansion of Premium Distributors of Virginia’s operations in Virginia. The territory included in this agreement will now connect Premium Distributors of Virginia’s footprint with Chesbay Distributing’s footprint, another Reyes Beer Division company. This acquisition will make Premium Distributors of Virginia the largest beer distributor in the state of Virginia and will solidify Reyes Beer Division as the largest beer distributor in the Mid-Atlantic region.
Stephen Reyes, President of Reyes Beer Division East, said, “Loveland Distributing Company is a great operation serving a great area. We are very excited for the opportunity to do right by the business and continue to grow its operations. We anticipate a smooth transition for our new employees and customers and we look forward to strengthening our relationships with Loveland’s suppliers.”
PH McLaughlin, President of Premium Distributors of Virginia, said, “The PVA Team couldn’t be more thrilled to welcome new colleagues to our business. We are grateful for the opportunity to grow and expand our operations and the addition of Loveland Distributing Company to the team will only make us more successful.”
The acquisition of Loveland Distributing Company will add over 4.6 million cases and 2,100 customer accounts to the Premium Distributors of Virginia business across the Richmond, Virginia market.
“I am very proud of Loveland’s success over the past sixty years. None of this success would be possible without our tremendous employees, and the wonderful relationships we enjoy with our customers and broader Richmond Community. I am confident that the Reyes family will continue to build on our proud legacy, and I look forward to watching the business continue to prosper,” said Mark Stepanian, President, Loveland Distributing Company, Inc.
- Posted in: Press Releases
- October 08, 2018