News Update: Berkshire Plans To Seek More Purchases In Alcohol Industry After Empire Purchase
by admin on Tuesday, January 25th, 2011 | No Comments
3/23/2010- Berkshire Hathaway (NYSE:BRK.A) said that it plans to seek more purchases in the industry after announcing yesterday that the company is buying the closely held parent of alcoholic-Beverage Wholesaler Empire Distributions, according to a Bloomberg report.
Chairman and CEO Warren Buffett said, “We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors.”
Buffett is looking for ways to invest Berkshire’s cash after markets recovered last year and profits rose.
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