Warren Buffett buys German retailer
In this article (5)
US serial investor Warren Buffett has bought niche German motorcycle and accessories retailer Detlev Louis Motorradvertriebs.
Buffett’s Berkshire Hathaway will pay €400 million for the Hamburg-based retailer which trades under the Louis brand. It employs 1500 staff in Germany and Austria and has annual sales of about €270 million from more than 70 stores, a catalogue business and online.
The vendor is Ute Louis, the widow of the company’s founder Detlev Louis.
Buffett, 84, is believed to have a passion for motorcycles – in 2009 he bought US$300 million of debt to rescue Harley-Davidson, but he is renowned for his keen investment eye and would not be acquiring the German business for sentimental value.
To date, the billionaire’s focus has largely been on US businesses, but he is increasingly eying European opportunities.
Questions & Answers
Q.What is the primary business of the German retailer Warren Buffett has acquired?
What is the primary business of the German retailer Warren Buffett has acquired?
Detlev Louis Motorradvertriebs is a niche German retailer specialising in motorcycles and motorcycle accessories. It operates under the Louis brand, selling products through over 70 stores, a catalogue, and online.
Q.How much is Warren Buffett's Berkshire Hathaway paying for the German retailer?
How much is Warren Buffett's Berkshire Hathaway paying for the German retailer?
Berkshire Hathaway, Warren Buffett's company, is paying €400 million to acquire Detlev Louis Motorradvertriebs. This purchase price reflects the value of the Hamburg-based retailer.
Q.Who was the vendor in the sale of Detlev Louis Motorradvertriebs to Berkshire Hathaway?
Who was the vendor in the sale of Detlev Louis Motorradvertriebs to Berkshire Hathaway?
The vendor in this transaction was Ute Louis, who is the widow of the company's founder, Detlev Louis. She facilitated the sale of the German motorcycle and accessories retailer.
Q.How many people does Detlev Louis Motorradvertriebs employ and what are its annual sales figures?
How many people does Detlev Louis Motorradvertriebs employ and what are its annual sales figures?
Detlev Louis Motorradvertriebs employs 1500 staff members across Germany and Austria. The company reports annual sales of approximately €270 million from its various sales channels.
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