Berkshire Hathaway Automotive

Mr. Buffett is adding the Van Tuyl Group, founded by Cecil Van Tuyl in 1955 as a single Chevrolet dealership in Kansas City, Kan. The company has grown to 78 dealerships across the country, with nearly $8 billion in revenue last year, according to Automotive News. That puts it behind publicly traded auto dealers like AutoNation, which reported $17.5 billion in revenue, and the Penske Automotive Group, with $14.7 billion in revenue. The cornerstone of the Van Tuyl business model is local entrepreneurial dealership managers with minority ownership stakes. Every Managing Partner has enthusiastically committed to stay on with Berkshire Hathaway Automotive and they will remain equity partners in their respective dealerships. When the acquisition closes, the Van Tuyl Group – to be renamed Berkshire Hathaway Automotive – will continue to be led by Cecil Van Tuyl’s son, Larry, and Jeff Rachor. The Van Tuyl Group also has a broader-than-usual array of businesses, including insurance and auto auctions in addition to retail sales. In addition, the company owns the real estate underlying its various dealer operations.