In a sudden turn of events for two decades, Warren Buffett Invested in the RV manufacturer, Forest RiverAnd it is a step that it has proven to be a profitable project Berkshire Hathaway Inc. BRK. The founder of the recently passed Forest River, Legend houseHe played an important role in this success story.
What happenedBuffett was not aware of the RV or Liegl manufacturer when it was presented with a proposal to obtain the Forest River. Although he was not insulting, he lost his family by the company and its price of $ 800 million. After a short meeting with Liegl, Buffett made an offer and the deal was completed.
After the acquisition, Forest River emerged as the best RV manufacturer in the United States, achieving nearly $ 6 billion in annual revenues.
According to the report by The Wall Street Journal, which continued the management of the company after the sale, was praised by Buffett as an “extraordinary businessman” whose contributions were greatly increased by Berkshire shareholders.
Also read: Buffett’s main lessons in an annual message for Berkshire: “Really distinguished companies are rarely presented in their entirety”
Despite his accomplishments, Liegl remained modest, holding strong work ethics and directly participating in his work. His philosophy was clear: “The best producer of the best price is all,” he said once for RV Business, which is published in the industry.
Liegl’s legacy continues to fuel the success of Forest River even after his death, indicating that the unexpected Buffett investment was a good decision.
Why do it matter: This investment by Pavite confirms his talent to determine the capabilities in the unconventional sectors. Although the RV manufacturing was not known, he saw the potential in the Forest River and its founder, Beit Legal.
This decision has been greatly resulted, as Forest River is now a leading RV company in the US Liegl philosophy of providing the best product on the best price with Buffett’s private investment philosophy, which increases the validity of the investment decision.
This story works as a reminder of the importance of vision and ability to determine the capabilities in unexpected places.
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This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.
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