Berkshire Hathaway To Buy Car Dealership Van Tuyl Group

Berkshire Hathaway Inc. said Thursday it's buying the Van Tuyl Group, the biggest privately held automobile dealership group in the United States. The company, which is the nation's fifth biggest automobile dealership, will be renamed Berkshire Hathaway Automotive and will continue to be led by Larry Van Tuyl, as chairman, and Jeff Rachor, who will be chief executive. Terms of the deal were not disclosed. Berkshire expects it to close in the first quarter of 2015. "This is just the beginning for Berkshire Hathaway Automotive, " Berkshire Hathaway Chairman and Chief Executive Warren Buffett said in a statement.