Looks like Warren Buffett is bullish about U.S. wine. He’s buying a niche wine distribution company and it looks like he payed up to get it:
…a subsidiary of Warren Buffett’s Berkshire Hathaway has struck a deal to purchase Atlanta-based Empire Distributing, which has operations in Georgia and North Carolina. Empire is owned by brothers David and Michael Kahn.
We told you yesterday that Buffett likely paid top dollar since Georgia is a franchise state.
This could be the reason:
Nielsen analysed the shopping habits of four key generations – greatest generation (aged 64+), boomers (45-63), gen x (33-44) and millennials (15-32) – and gave a rundown on what marketers should expect when targeting these groups. Interestingly, wine is one of the largest spending categories for seniors at $124 per year. Boomers spend $125 per year on wine, while gen x spends $78 and millennials spend $61 annually.