Berkshire Hathaway acquiring logistics company

Warren Buffett’s firm Berkshire Hathaway says it is acquiring logistics company Charter Brokerage from private equity firm Arsenal Capital Partners.

The financial terms of the deal were not disclosed.

Charter Brokerage is based in New York and provides global logistics services to the petroleum and chemical industries.

Berkshire Hathaway Inc. owns companies in industries including utilities and energy, freight rail transportation and insurance.

Class B shares of Omaha, Nebraska-based Berkshire fell 2.4 per cent to close at $146.46.