Who is the persona: the distributor or the end-costumer?

So at my workplace, we create an hardware product which uses distributors to sell the product to their end-costumers (common distribution).

The question is, how can a persona be defined when the value of the product is understood by our distributors (it's them who buy the product) but those who use it is their end-costumers? And how can the persona be defined on these circumstances?