Berkshire Hathaway, run by
Warren Buffett, shown, agreed to pay about $500 million for the retailer.
Berkshire, run by billionaire
Warren Buffett, agreed to pay about $500 million for the business, according to
a person with knowledge of the deal.
The purchase of Oriental
Trading, based in Berkshire's hometown of Omaha, Neb., adds another retail
company to Berkshire's stable and marks a vote of confidence in the company,
which emerged from bankruptcy protection in February last year.
"Oriental Trading is a
leader in its industry, has a strong management team and delivers exceptional
customer value and service," Mr. Buffett said in a statement released
jointly with Oriental Trading on Friday.
