Buffett Invests in Outback Steakhouse
OMAHA, Neb. (AP) _ Billionaire investor Warren Buffett has put millions of dollars into national restaurant chain Outback Steakhouse.
Filings made public Thursday by the Securities and Exchange Commission indicate that Buffett’s Berkshire Hathaway Inc. bought 1.8 million shares in the restaurant chain, worth about $47.5 million, sometime before March 31, 2001. By Dec. 31, that stake had increased in value to about $64 million.
Outback shares sold at $22.93 on March 22. They closed at $35.41 on Thursday.
The steakhouse chain, based in Tampa, Fla., has two outlets in Omaha, but Buffett long has touted the taste of steaks at Gorat’s. The local restaurant plays host to Buffett and his guests during his annual meetings.
Buffett, who owns International Dairy Queen and holds stock in Coca-Cola Co., invests in a wide range of industries, including insurance, newspapers and furniture.
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