The Reyes Beer Division has struck a deal to acquire Greenco Beverage in Greenville, South Carolina.
Financial terms of the transaction were not disclosed. The deal is expected to close on September 24.
“Greenco Beverage Company runs a great business and has a long-standing history of success in the state of South Carolina,” Reyes Beer Division CEO Tom Day said in a press release. “We are grateful for the opportunity to continue to grow our business and we look forward to building great relationships with our new customers and our new employees.”
The acquisition of Greenco will add 2.8 million cases and about 200 customers to Reyes’ existing business in the state.
Reyes operates Lee Distributors, which it acquired in 2006, with a business totaling more than 5 million cases, which it distributes to retailers from warehouses in Summerville and Ridgeland across seven counties.
Greenville, where Greenco is based, is located about 220 miles northwest of the Charleston area.
Suppliers involved in the deal include Molson Coors, Constellation Brands, Yuengling, Heineken, Diageo, Boston Beer (Truly Hard Seltzer, Twisted Tea, Samuel Adams, Dogfish Head, Angry Orchard), Mark Anthony (White Claw, Mike’s Hard), SweetWater, and Lagunitas.
Lee’s portfolio features a lot of overlap, including Molson Coors, Constellation, Heineken, Yuengling, Boston Beer and Mark Anthony.
Greenco Beverage was founded in 1916 as Chero Bottling and Distribution Company, according to the company’s website. Current owner Russell Farr, known as the “Slinger of Suds,” is the second generation of the Farr family to operate the business, after Judd Farr acquired the company in 1965.
The acquisition marks a homecoming of sorts for the Reyes Beer Division, which began as a single Schlitz distributor in nearby Spartanburg 45 years ago before it morphed into the country’s largest beer wholesaler with more than 228 million cases distributed per year.
“To have the opportunity to service the market and give back to the surrounding communities in which we first established our roots is truly special,” Reyes Beer Division East president Stephen Reyes said in the release. “The Farr family has built an incredible business with a great foundation and we respect everything they’ve accomplished over the years.”
News of the deal comes on the heels of Reyes’ announcement that it had reached an agreement to acquire Centreville, Maryland-based G & G Distributors on June 30.