Sources said Carter Distributing Company, a longtime mainstay on South Broad Street, has been sold.
The company, which started in 1959, has reportedly been sold to Cherokee Distributing, a beer distributor in East Tennessee.
Carter Distributing has 79 employees.
Owner Blair Carter did not return a call for comment.
A staff member said she could not comment.
The operation is on a valuable property near Main Street.
The firm was started by the current owner's father, "Beer Bill" Carter, a former state legislator.