Henrico County-based Loveland Distributing Co. Inc. is now the property of the nation’s largest beer distributor.
Premium Distributors of Virginia LLC, a division of Illinois-based Reyes Holdings LLC, said Friday that it has closed its acquisition of substantially all of the assets of Loveland, a beverage distributor that has operated as a family business in central Virginia since 1953.
The deal was announced in October, and the privately held companies did not disclose the financial terms.
Loveland has about 200 employees and distributes major beer brands such as Coors, Miller, Guinness and Corona, along with more than 25 craft beers, in central and southern Virginia.
Premium Distributors said the acquisition makes it the largest beer distributor in Virginia, linking existing territories in Northern Virginia and Hampton Roads.
Loveland Distributing was founded in 1953 by Louis Loveland and was acquired by Leon Stepanian Sr. in 1958. It was managed by three generations of the Stepanian family.