Berkshire Hathaway Acquiring Charter Brokerage

Berkshire Hathaway said late Friday it's acquiring Charter Brokerage for undisclosed terms, from Arsenal Capital Partners. Charter is a third party logistics provider to the petroleum and chemical industries, according to a statement from Berkshire. Bershire Chairman and CEO Warren Buffett called Charter a "high quality business with consistently strong financial performance that fits well within Berkshire Hathaway."

Copyright © 2014 MarketWatch, Inc.