Which Fortune 500 company acquired See’s Candies in 1972 for about $25 million?

Berkshire Hathaway acquired See’s Candies in 1972 for about $25 million.

The purchase became famous because See’s generated strong profits and required relatively little additional capital. Warren Buffett and Charlie Munger later cited the business as an important lesson in the value of buying companies with powerful brands and pricing power.

See’s Candies was founded in Los Angeles in 1921 by Charles See, his wife Florence, and their son Charles. The company used family recipes associated with Mary See, Charles See’s mother.

The acquisition is sometimes remembered as a technology or finance deal because Berkshire is widely associated with insurance and investments. In reality, See’s is a confectionery retailer and manufacturer whose economics influenced Berkshire’s investment philosophy.