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SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Buffett Buys Oriental Trading From Buyout Firm

The billionaire businessman decides to do a deal with Kohlberg Kravis Roberts & Co., an exception to his

Warren Buffett usually steers clear of buying companies from private equity firms, which, he said famously in 2010, are too focused on exits. But the billionaire businessman made an exception when his Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B) agreed in November to acquire Oriental Trading Co., the largest shareholder of which is Kohlberg Kravis Roberts & Co. (NYSE: KKR).

Based in Berkshire and Buffett's home town of Omaha, Oriental Trading sells party supplies, arts and crafts, school supplies, toys and novelties, including themed gift bags, dinosaur pinatas and glow-in-the-dark jewelry. The company offers guaranteed lowest prices on its more than 40,000 products.

"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," Buffett says.

Oriental Trading emerged from bankruptcy protection in 2011, after filing for Chapter 11 protection in August 2010. KKR owned about a one-third stake, after the firm exchanged its debt for equity when the company exited from bankruptcy.

Berkshire Hathaway's businesses include property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retail and other services.


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