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OMAHA, Neb. -- Berkshire Hathaway Inc. subsidiary, McLane Co., entered into an agreement to acquire alcohol beverage distributors Kahn Ventures Inc., parent company of Empire Distributors Inc. and Empire Distributors of North Carolina Inc.
The companies are wholesale distributors of distilled spirits, wine and beer in the states of Georgia and North Carolina. Under the agreements, Empire will continue to be run in the same manner as it has for the past 70 years, led by the current management team, and operating in its existing facilities and markets, the company stated. McLane Co. officials declined to provide more information when contacted by CSNews Online.
The deal brings Empire new access to enhanced resources, operational best practices and intellectual capital, according to the company.
"We are excited about the opportunity to have Empire become part of our portfolio of outstanding businesses," Warren Buffett, Berkshire's chairman and CSO, said in a statement. "We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high quality wholesale distributors."
The acquisition is subject to customary closing conditions. McLane is a $32 billion supply chain services firm, providing grocery and foodservice solutions for the c-store, mass merchant, drug, restaurant and military channels throughout the United States.
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