He's buying a niche wine distribution company and it looks like he payed up to get it: 
 
 Wine and Spirits Daily: 
 
 ...a subsidiary of Warren Buffett's Berkshire Hathaway has struck a deal to purchase Atlanta-based Empire Distributing, which has operations in Georgia and North Carolina. Empire is owned by brothers David and Michael Kahn. ... 
 
 We told you yesterday that Buffett likely paid top dollar since Georgia is a franchise state. Stay tuned... 
 
 
 
 WINE "ONE OF THE LARGEST" SPENDING CATEGORIES FOR SENIORS 
 
 
 
 Nielsen analyzed the shopping habits of four key generations - greatest generation (aged 64+), boomers (45-63), gen x (33-44) and millennials (15-32) - and gave a rundown on what marketers should expect when targeting these groups. Interestingly, wine is one of the largest spending categories for seniors at $124 per year. Boomers spend $125 per year on wine, while gen x spends $78 and millennials spend $61 annually.
– Warren Buffett, who watchers had expected to buy a beer distributor, made a recent bet on wine instead, reports Business Insider, in a move that reflects the drinking habits of aging baby boomers. A subsidiary of Buffett’s Berkshire Hathaway has a deal in place to buy Empire Distributing, a niche wine distributor based in Atlanta and operating in Georgia and North Carolina—and he probably paid top dollar, reports Wine & Spirits Daily. Why? Well, the same Wine & Spirits post notes that, according to a recent Nielsen study, wine is one of the biggest spending categories for seniors, who shell out $124 on it per year. Boomers spend even more—$125, compared to $78 for gen x'ers and $61 for millennials. The deal isn't expected to be Buffett's last in the wine industry.