On May 1, the 50th edition of the Berkshire Hathaway annual meet kicks off in Omaha.
Ahead of this meeting, we here at Business Insider were sent a package from one of Warren Buffett’s portfolio companies: See’s Candies.
See’s was acquired by Buffett’s Berkshire Hathaway in 1972 for $US25 million. To date, See’s has earned $US1.9 billion in pre-tax profit for Berkshire and required only $US40 million in additional investments.
In his latest letter to shareholders, Buffett discussed the acquisition, writing that, “through watching See’s in action, I gained a business education about the value of powerful brands that opened my eyes to many other profitable investments.”