Warren Buffett's former lieutenant quit to build her own Berkshire Hathaway — and she just closed her first deal
- Warren Buffett's protégé recently left
Berkshire Hathawayto build her own conglomerate.
- Tracy Britt Cool's
Kanbrickinvestment firm struck its first deal this week, taking a stake in Thirty-One Gifts, Bloomberg reported.
- The former
Pampered ChefCEO is sticking to what she knows by investingin another company that provides products to independent sellers who throw parties to sell them.
- "We created Kanbrick to provide business owners and founders a long-term home for their businesses," Britt Cool said in a statement emailed to Bloomberg.
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Warren Buffett's former lieutenant left Berkshire Hathaway to build her own conglomerate earlier this year. She just closed her first deal.
Kanbrick, the investment firm she now leads with cofounder and ex-Pampered Chef CFO Brian Humphrey, has taken a stake in Thirty-One Gifts, according to Bloomberg.
Read more: 'The outcome will be catastrophic': A renowned stock bear says current market valuations rival that of the Great Depression — and warns a return to normalcy will be accompanied by a 66% crash
Thirty-One Gifts didn't immediately respond to a request for comment from Business Insider.
Britt Cool appears to be emulating Buffett by staying within her "circle of competence" — both Pampered Chef and Thirty-One Gifts provide products to independent sellers who throw parties where they sell them.
Pampered Chef specializes in kitchen tools and appliances, while Thirty-One Gifts sells bags, accessories, and personalized gifts.
"We created Kanbrick to provide business owners and founders a long-term home for their businesses," Britt Cool said in a statement emailed to Business Insider.
Her team plans to help Thirty-One Gifts' sellers to grow their businesses and harness technology to reach their customers, she said.
Thirty-One Gifts has about 1,000 full-time employees, boasts a nationwide network of 70,000 independent sales consultants, and generates roughly $400 million in annual sales, according to a profile of cofounder and CEO Cindy Monroe in the Chattanooga Times Free Press last year.
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