Tuesday, March 23, 2010

Buffet buys booze wholesaler

Maybe he wants "Woodstock for Capitalists" livened up this year!

March 23 (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc., which agreed yesterday to buy the closely held parent of alcoholic-beverage wholesaler Empire Distributors, said it plans to seek more purchases in the industry.

“We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors,” Buffett, Berkshire’s chairman and chief executive officer, said in a statement. Terms of the deal for Kahn Ventures Inc. of North Carolina weren’t disclosed.

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