Buffet the Alcohol Emperor

March 23rd, 2010 - Posted by Admin

Warren Buffet, the Sage of Omaha, is known for his financially prudent decisions–right down to his still living in the family home in Nebraska. It appears, though, that Buffet, through his company Berkshire Hathaway, has purchased an alcohol distributor called Empire Distributors–and he is in the market for more.

“We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors,” Buffett, Berkshire’s chairman and chief executive officer, said in a statement. Terms of the deal for Kahn Ventures Inc. of North Carolina weren’t disclosed.

Buffett is looking for ways to invest Berkshire’s cash after markets recovered last year and profits jumped.

Investing in alcohol seems like a safe-bet, I’d say. It seems to have been a constant commodity throughout human history, basically.