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Fredericksburg Distributing Co. in Stafford County, which employs more than 100 people, is being sold |
One of the Fredericksburg area's largest beer distributors is being sold to a wholesaler based out of Northern Virginia.
Fredericksburg Distributing Co. will be sold to Premium Distributors of Virginia, FDC General Manager Rocky Sizemore confirmed yesterday.
FDC sells a large variety of beer labels including Coors, Corona, Pabst, Yuengling, Miller, Sam Adams and Fosters in a territory that includes the entire Fredericksburg area and beyond.
Sizemore did not disclose the financial terms of the deal or the reason behind the sale, which he said is expected to close Oct. 8.
FDC is based off U.S. 17 near the Interstate 95 interchange in Stafford County. It employs about 107 people. Sizemore said most of the company's employees, including himself, will stay on with Premium Distributors. The deal includes FDC's Commerce Parkway facility.
Another longstanding Stafford-based beer distributor, Freeman Beverage, is also exploring a sale. Freeman distributes wine and non-alcoholic drinks in addition to beer.
L. Wayne Sanders and his business partners bought FDC from the Ventura family in 1988. FDC expanded its reach in 2004 with the purchase of Northern Neck Distributing Co. That deal added Miller, Sam Adams and Fosters to the FDC line, among other labels.
Sanders ran the company until his death in May 2007 at the age of 60. His widow, Lucinda Cochran Sanders, continues to own FDC.
Premium Distributors of Virginia is a division of Chicago-based Reyes Holdings, which Forbes magazine has named as one of the largest privately owned companies in the United States. A Reyes spokeswoman could not be reached for comment.
Premium approached FDC regarding a possible deal about a month ago, Sizemore said. The papers were signed last week, he said, and the next month will be used for standard due diligence.
The sale is part of a trend toward consolidation in the beer wholesaler business.
Bill Freehling: 540/374-5405
Email: bfreehling@freelancestar.com
