Warren Buffet is one of the richest men in the United States, and recently he placed a substantial amount of his money in the wine industry. With reports saying Buffet paid top dollar to acquire Empire Distributing out of Atlanta. This niche wine distributor is an investment for Buffet who many believe will place more money in the wine industry after this purchase is complete.
With studies showing that the Baby Boomer generation spends more than any other filling their barossa moka wine tote at the store, Buffet is hoping to take these sales and get a significant return on his investment. While the reasons for consuming wine for the Baby Boomers may vary from pure taste enjoyment, to show success, and even for health the average amount spent per year is approximately $125 per person.
For the wine industry Buffet putting his money into the industry will only encourage others to do the same. Many follow the same path as Warren Buffet just because he has such a successful track record on getting positive returns for his money. In times like these with an unstable economy finding wise investments is something that many are looking for and look to people like Buffet for guidance.