Warren Buffett’s Berkshire Hathaway Inc. has agreed to buy closely held Oriental Trading Co., the biggest direct retailer of cut-price party supplies in the United States.
The acquisition of the company, based in Buffett’s hometown of Omaha, Neb., will be completed this month, Berkshire said. Berkshire will pay about $500 million, the Wall Street Journal reported, citing a person close to the deal.
Buffett, 82, has been making smaller acquisitions as he searches for larger takeovers to expand the firm he built over four decades.
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