Berkshire Hathaway unit McLane Co. closes acquisition of beverage distributor Kahn Ventures
By APFriday, April 23, 2010
Berkshire unit closes buyout of liquor distributor
OMAHA, Neb. — Berkshire Hathaway Inc. on Friday said a subsidiary had completed the acquisition of a beer and liquor distributor that operates in Georgia and North Carolina.
The Berkshire unit, grocery and food service supplier McLane Co., has bought privately held Kahn Ventures for an undisclosed amount.
Kahn Ventures is the parent of Empire Distributors and Empire Distributors of North Carolina, both wholesale distributors. Kahn is based in Atlanta.
Warren Buffett, chairman and CEO of Berkshire Hathaway, said last month the acquisition would “provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors.”
No changes are planned at Empire.
Berkshire Hathaway “A” shares closed Friday up $600 at $119,000. Its more heavily traded “B” shares closed up 27 cents at $78.95.
