Hamburg News: Trade and Finance. High-class shopping area in the city centre shown.
Geschäftsabschluss © / C. O. Bruch

Warren Buffets Buys Hamburg Motor Bike Retailer

Warren Buffett's Berkshire Hathaway Inc (BRKa.N) a little more than 400 million euro for German motorcycle apparel and accessories retailer Detlev Louis Motorrad-Vertriebs GmbH

The Hamburg-based specialist retailer claims to be Europe’s number one motorcycle equipment outfitter. With 70 shops in Germany and Australia and 25 online stores, Detlev Louis and its 1,500 staff achieve annual sales of 270 million euro. On 13 October 2013, company founder Detlev Louis died, aged 93. His widow Ute has approached Berkshire about the transaction and meanwhile sold Louis, while still waiting for Antitrust approval. Buffet, who supported motorcycle manufacturer Harley-Davidson in 2009, sees the acquisition of Louis as a “door opener” for increased activities in Europe. So far, most of Berkshire’s more than 80 business units mainly operated in the U.S. European investment include the French pharmaceutical specialist Sanofi and the German re-insurer
Munich Re (MUVGn.DE).

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