Warren Buffett Buys German Motorcycle Gear Retailer

Advertisement

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) has bought Devlet Louis Motorradvertriebs, which is a German motorcycle gear retailer.

warren-buffett-brk.a-brk.b

Warren Buffett’s company bought the motorcycle gear retailer for $450 million. The company has 71 stores throughout Germany and Austria and pulls in about $300 million a year. This is Buffett’s first announced acquisition in 2015, reports Fortune.

Warren Buffett isn’t likely done with Europe after his purchase of Devlet Louis Motorradvertriebs. He said that the deal was a “door opener” and that he liked the fact his company had “cracked the code in Germany”, Fortune notes.

Warren Buffett said that his company was planning to buy a business in Europe earlier this month. He said the business would likely be small, but that he would also like to buy big businesses located in the area, reports Bloomberg.

BRK.A and BRK.B shares were up slightly as of Friday afternoon.

More From InvestorPlace

 


Article printed from InvestorPlace Media, https://investorplace.com/2015/02/warren-buffett-brk-a-brk-b/.

©2024 InvestorPlace Media, LLC