Food
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.
