Yesterday,
news jumped into the market: The oracle of Omaha, Warren Buffett the mastermind behind the investment holding Berkshire Hathaway, bought an auto dealer. What - Auto and Dealer?
Yes, Buffett acquired an auto dealer. He still owns
shares of car manufacturer General Motors and adds a fully business from the
distribution site. The company named Van Tuyl Group and generated sales of just under USD 8 billion.
Van Tuyl Group says it is the biggest
privately owned auto dealership group in the U.S. It has 78 independently
operated dealerships and more than 100 franchises in 10 states. The company
will be renamed Berkshire Hathaway Automotive and be based in Dallas.
- See more at:
http://long-term-investments.blogspot.co.uk/2014/10/warren-buffett-buys-auto-dealer-here.html#sthash.7GE74iZn.dpuf
The deal
comes amid ongoing consolidation in the industry. Publicly traded giants, including
Florida-based AutoNation and Oregon-based Lithia Motors have been snapping up
smaller retail chains, often run by families who have been selling cars for
generations.
Yesterday,
news jumped into the market: The oracle of Omaha, Warren Buffett the mastermind behind the investment holding Berkshire Hathaway, bought an auto dealer. What - Auto and Dealer?
Yes, Buffett acquired an auto dealer. He still owns
shares of car manufacturer General Motors and adds a fully business from the
distribution site. The company named Van Tuyl Group and generated sales of just under USD 8 billion.
Van Tuyl Group says it is the biggest
privately owned auto dealership group in the U.S. It has 78 independently
operated dealerships and more than 100 franchises in 10 states. The company
will be renamed Berkshire Hathaway Automotive and be based in Dallas.
- See more at:
http://long-term-investments.blogspot.co.uk/2014/10/warren-buffett-buys-auto-dealer-here.html#sthash.7GE74iZn.dpuf
The deal
comes amid ongoing consolidation in the industry. Publicly traded giants, including
Florida-based AutoNation and Oregon-based Lithia Motors have been snapping up
smaller retail chains, often run by families who have been selling cars for
generations.
Yesterday,
news jumped into the market: The oracle of Omaha, Warren Buffett the mastermind behind the investment holding Berkshire Hathaway, bought an auto dealer. What - Auto and Dealer?
Yes, Buffett acquired an auto dealer. He still owns
shares of car manufacturer General Motors and adds a fully business from the
distribution site. The company named Van Tuyl Group and generated sales of just under USD 8 billion.
Van Tuyl Group says it is the biggest
privately owned auto dealership group in the U.S. It has 78 independently
operated dealerships and more than 100 franchises in 10 states. The company
will be renamed Berkshire Hathaway Automotive and be based in Dallas.
- See more at:
http://long-term-investments.blogspot.co.uk/2014/10/warren-buffett-buys-auto-dealer-here.html#sthash.7GE74iZn.dpuf
The deal
comes amid ongoing consolidation in the industry. Publicly traded giants, including
Florida-based AutoNation and Oregon-based Lithia Motors have been snapping up
smaller retail chains, often run by families who have been selling cars for
generations.
Yes, Buffett acquired an auto dealer. He still owns shares of car manufacturer General Motors and adds a fully business from the distribution site. The company named Van Tuyl Group and generated sales of just under USD 8 billion.
Van Tuyl Group says it is the biggest privately owned auto dealership group in the U.S. It has 78 independently operated dealerships and more than 100 franchises in 10 states. The company will be renamed Berkshire Hathaway Automotive and be based in Dallas.
The deal comes amid ongoing consolidation in the industry. Publicly traded giants, including Florida-based AutoNation and Oregon-based Lithia Motors have been snapping up smaller retail chains, often run by families who have been selling cars for generations.
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