INDUSTRY NEWS
BPCA M&D member, Bell Laboratories announced it has been acquired by Berkshire Hathaway.
The acquisition marks a new chapter in Bell Laboratories’ history. Bell Laboratories said it remains committed to delivering high-quality products and services to customers worldwide.
Under Berkshire Hathaway ownership, Bell will continue to operate independently, maintaining its leadership, culture and strategic direction.
Bell Laboratories welcomed Warren Buffett, Greg Abel, Howard Buffett and members of the Berkshire Hathaway team to its corporate headquarters in August.
In a conversation between Bell President and CEO Steve Levy and Berkshire Hathaway Chairman and CEO Warren Buffett, Buffett congratulated the company on its 50-year legacy and offered his perspective on its future.
“Mr. Buffett congratulated Bell on 50 years of success,” Levy said. “He shared that, because of this transaction, Bell can expect to be around for the next 50 years.”
Patrick Lynch, chief commercial officer of Bell and president of Bell Sensing, said the company is excited to welcome Berkshire Hathaway to the pest control industry.
“Due to Berkshire’s commitment to maintaining our leadership and culture, we are happy to reassure our partners that Bell will continue to lead our industry, providing the widest breadth and highest quality rodent control tools on the market,” Lynch said.
Bell Laboratories was founded in 1974 by Malcolm Stack, who launched the business following a successful career managing a pesticide formulation business.
Following his passing in 2006, the company had been solely owned by his daughters, Linda Hughes and Anne Connor, both of whom are now nearing retirement age. The sale to Berkshire Hathaway marks the first change of ownership from the Stack family.
Bell Laboratories said it remains committed to delivering innovative, science-driven rodent control solutions while upholding the values that have defined the company since its founding.
Levy said, “We are grateful for the enduring commitment the Malcolm Stack family has made to the pest control industry, and we look forward to building on that legacy in partnership with Berkshire Hathaway.”
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Source: Online