Walmart sold McLane Company to Berkshire Hathaway in 2003. Berkshire acquired the Texas-based distribution business from Walmart in May of that year for approximately $1.45 billion in cash.
McLane began as a grocery business in Cameron, Texas, founded by Robert McLane in 1894. It expanded into wholesale distribution, serving grocery stores and later convenience stores and food-service customers. Walmart bought McLane in 1990, when Drayton McLane Jr. sold the company for Walmart shares and cash.
The 2003 transaction returned McLane to independent ownership under Berkshire, although Walmart remained an important customer. The deal is sometimes confused with a Berkshire acquisition of Walmart itself, but Berkshire bought McLane, not the retail chain. McLane became one of Berkshire’s wholly owned operating businesses and continued distributing groceries, beverages and food-service products across the United States.