LEWISTON — Federal Distributors of Lewiston is being acquired by Valley Distributors, according to the company’s president.

The new name? Valley Beverage. 

“Federal Distributors has been a family success story for more than 70 years,” said company President John Cronin in a news release. “After careful consideration, we decided that Valley Beverage was the best company to assume ownership.”

Valley Beverage will maintain both distribution facilities, which are on Lisbon Road in Lewiston and Belgrade Road in Oakland.

Federal Distributors was founded in April 1947 by Paulette Cronin and Bowdoin graduates Eugene Cronin Jr. and Joseph Cronin.

The company employs more than 70 full-time employees and is recognized as the premier beer wholesaler in its territory.

Terms of the purchase were not released, and what effect, if any, the sale will have on current employees.

“We are very excited about the growth opportunities and the great new markets that the acquisition of Federal Distributors will bring,” said Valley Beverage President Michael Runser.

“Our goal is to improve upon the family-owned legacies of both companies. We look forward to working with the experienced team at Federal Distributors,” he said.