Looks like Warren Buffett is bullish about U.S. wine. He’s buying a niche wine distribution company and it looks like he payed up to get it:
…a subsidiary of Warren Buffett’s Berkshire Hathaway has struck a deal to purchase Atlanta-based Empire Distributing, which has operations in Georgia and North Carolina. Empire is owned by brothers David and Michael Kahn.
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We told you yesterday that Buffett likely paid top dollar since Georgia is a franchise state.
This could be the reason:
Nielsen analyzed the shopping habits of four key generations – greatest generation (aged 64+), boomers (45-63), gen x (33-44) and millennials (15-32) – and gave a rundown on what marketers should expect when targeting these groups. Interestingly, wine is one of the largest spending categories for seniors at $124 per year. Boomers spend $125 per year on wine, while gen x spends $78 and millennials spend $61 annually.
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See Also:
- Warren Buffett Explains How ‘Sound-bite Reporting’ Can Go Wrong
- New Yorker Writer Gets $20,000 Check From Warren Buffett’s Partner
- The Complete Guide To What Warren Buffett Has Been Buying And Selling