Buffet Takes Stake in STORE Capital

Berkshire Hathaway’s investment “solidly positions STORE for continued growth,” says Volk.

SCOTTSDALE, AZ—Shares of STORE Capital (STOR) were up over 9% as of mid-morning Monday after the net lease REIT disclosed that Warren Buffet’s Berkshire Hathaway had taken a 9.8% ownership stake. STORE issued 18.6 million shares of company stock in a private placement to a wholly owned Berkshire Hathaway subsidiary at $20.25 per share, for a total of $377 million.

“Berkshire Hathaway’s investment solidly positions STORE for continued growth, while adding measurably to our already strong financial position,” says Christopher Volk, STOR’s president and CEO. “An investment in our company from one of history’s most admired investors represents a vote of confidence in our experienced leadership team and an affirmation of our profit-center real estate investment and management approach.”