Berkshire Hathaway buying Kahn Ventures which distributes liquor in Georgia, North Carolina

Berkshire buys liquor distributor Kahn Ventures

OMAHA, Neb. — A subsidiary of Warren Buffett’s company said Monday that it’s buying a liquor distributor that serves Georgia and North Carolina.

Terms of the McLane Co.’s acquisition of Kahn Ventures Inc. and Empire Distributors weren’t disclosed in the statement announcing the deal.

Buffett, who is chairman and CEO of McLane’s Omaha-based parent company Berkshire Hathaway Inc., says he’s excited about the Empire deal because of the opportunities Berkshire, McLane and Empire envision in the beverage industry.

“We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high quality wholesale distributors,” Buffett said in a statement.

Neither Buffett nor a McLane spokesman responded immediately to messages left Monday.

In keeping with Berkshire’s practice, no changes are planned at Empire. The news release said the Atlanta-based distributor will continue operating just as it has for 70 years.

Empire has eight facilities equipped with high-tech equipment, including bottle scanning and GPS routing, to help them operate efficiently.

Berkshire said with the acquisition Empire will gain access to more resources and operational best practices.

McLane is one of Berkshire’s roughly 80 subsidiaries. It is based in Temple, Texas, and distributes groceries, tobacco and other items to convenience stores, drug stores, wholesale clubs and other retailers. Berkshire bought McLane from Wal-Mart in 2003.

Berkshire owns clothing, furniture, jewelry and corporate jet firms, but its insurance and utility businesses accounted for more than one-third of the company’s revenue last year. It also has major investments in such companies as Coca-Cola Co. and Wells Fargo & Co.

On the Net:

Berkshire Hathaway Inc.: www.berkshirehathaway.com

Empire Distributors: www.empiredist.com