Buffett's Berkshire Hathaway (BRK-a) Buys Party Supply Maker Oriental Trading
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Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) announced the acquisition of Omaha-based Oriental Trading Company, the largest direct retailer of value-priced party supplies, arts and crafts, school supplies, toys and novelties.
The transaction is expected to close by the end of November and is subject to the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
"Oriental Trading is a leader in its industry, has a strong management team and delivers exceptional customer value and service," said Warren Buffett. "By increasing revenue, profits and the customer base over the last few years, Sam Taylor and the entire Oriental Trading team have successfully improved the business and positioned it for long-term growth. We are delighted to have them join the Berkshire Hathaway family and continue their quest to make the world more fun. They have had several changes to ownership in the past, but OTC has a permanent home with Berkshire Hathaway."
The transaction is expected to close by the end of November and is subject to the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
"Oriental Trading is a leader in its industry, has a strong management team and delivers exceptional customer value and service," said Warren Buffett. "By increasing revenue, profits and the customer base over the last few years, Sam Taylor and the entire Oriental Trading team have successfully improved the business and positioned it for long-term growth. We are delighted to have them join the Berkshire Hathaway family and continue their quest to make the world more fun. They have had several changes to ownership in the past, but OTC has a permanent home with Berkshire Hathaway."
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