Berkshire Hathaway vs Sysco: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and Sysco side by side

1. 1839Berkshire Hathaway

   Valley Falls Company Founded

   Oliver Chace founds the Valley Falls Company in Valley Falls, Rhode Island, as a cotton textile manufacturer. Chace had learned the trade working with Samuel Slater and built his first mill in 1806.

2. 1955Berkshire Hathaway

   Berkshire Fine Spinning and Hathaway Manufacturing Merge

   Berkshire Fine Spinning Associates and Hathaway Manufacturing combine and take the Berkshire Hathaway name.

3. 1962Berkshire Hathaway

   Buffett Partnership Buys Its First Berkshire Shares

   Buffett Partnership Ltd. buys its first Berkshire Hathaway shares in December 1962. Buffett was drawn to the pattern of Berkshire closing plants and using the liquidation proceeds to repurchase its own stock.

4. 1964Berkshire Hathaway

   Tender Offer Dispute With Seabury Stanton

   Berkshire president Seabury Stanton asks Buffett at what price Buffett Partnership would sell, agrees to $11.50 a share, then mails a tender offer at $11.375.

5. 1965Berkshire Hathaway

   Buffett Takes Control and Names Ken Chace President

   Buffett Partnership takes control of Berkshire Hathaway in May 1965 and Stanton leaves. Buffett selects Ken Chace, a long-time employee, as president to run the textile operation, and the cash it generates is pointed at other industries.

6. 1967Berkshire Hathaway

   Entry Into Insurance With National Indemnity

   Early in 1967 Berkshire pays $8.6 million to buy National Indemnity Company and a small sister insurer from owner Jack Ringwalt.

7. 1969Sysco

   Sysco is founded

   John F. Baugh and other distributors formed Sysco to build a national foodservice distribution company.

8. 1970Sysco

   Sysco goes public

   Sysco became a public company and used capital markets to support expansion.

9. 1972Berkshire Hathaway

   See's Candies Bought for $25 Million

   Blue Chip Stamps, controlled by Buffett and Munger and later merged into Berkshire, buys See's Candies for $25 million.

10. 1985Berkshire Hathaway

    Textile Operations Closed

    Buffett decides in July 1985 to close Berkshire's textile operation and the shutdown is largely complete by year end. He described it as finally throwing in the towel after twenty years of unremitting struggle with the business.

11. 1996Berkshire Hathaway

    GEICO Becomes Wholly Owned and Class B Shares Created

    Berkshire buys the remaining 49% of GEICO on January 2, 1996, having held 51%, and GEICO becomes a wholly owned subsidiary. Shareholders also approve a recapitalization creating Class B shares with the economic rights of one thirtieth of a Class A share.

12. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

    Berkshire acquires reinsurer General Re and fractional-aircraft operator Executive Jet.

13. 1999Sysco

    Acquired Newport Meat

    Sysco acquired Newport Meat. Sysco acquired Newport Meat in 1999.

14. 2010Berkshire Hathaway

    BNSF Railway Acquired

    Berkshire completes its purchase of Burlington Northern Santa Fe in the first quarter of 2010.

15. 2015Sysco

    US Foods merger blocked

    Antitrust opposition ended Sysco's proposed combination with US Foods.

16. 2016Berkshire Hathaway

    Precision Castparts Acquired

    Berkshire completes the purchase of Precision Castparts, an aerospace and industrial components maker, for $235 a share in cash.

17. 2016Sysco

    Brakes Group acquisition

    Sysco expanded internationally by acquiring Brakes Group in Europe.

18. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

    Berkshire's board expands from twelve to fourteen directors and elects Greg Abel and Ajit Jain.

19. 2018Sysco

    Tom Bené becomes CEO

    Tom Bené became CEO of Sysco in 2018. Stepped down on January 31, 2020, when Kevin Hourican took over.

20. 2020Sysco

    Kevin Hourican becomes CEO

    Kevin Hourican became CEO of Sysco in 2020. Under Hourican, sales grew from $51.3 billion in fiscal 2021 to $84.6 billion in fiscal 2026.

21. 2022Berkshire Hathaway

    Alleghany Corporation Acquired

    Berkshire completes the acquisition of insurer Alleghany Corporation on October 19, 2022, paying $848.02 a share in cash for a total equity value of about $11.6 billion and adding the TransRe reinsurance business.

22. 2024Berkshire Hathaway

    Market Value Tops $1 Trillion

    Berkshire's market capitalization passes $1 trillion on August 28, 2024, making it the first US company outside the technology sector to reach that level.

23. 2024Berkshire Hathaway

    Pilot Travel Centers Fully Owned

    Berkshire acquires the remaining 20% of Pilot Travel Centers on January 16, 2024 and takes full ownership. It had bought 38.6% in 2017 and a further 41.4% for about $8.2 billion in January 2023.

24. 2025Berkshire Hathaway

    Board Approves Abel as CEO From January 2026

    Berkshire announces in May 2025 that Greg Abel will become President and Chief Executive Officer on January 1, 2026, with Warren Buffett remaining Chairman of the Board.

25. 2025Sysco

    Sales reach $81.370B

    Sysco reported fiscal 2025 sales of $81.370 billion.

26. 2026Berkshire Hathaway

    Abel Becomes CEO and Buffett Becomes Chairman Emeritus

    Abel takes over as CEO on January 1, 2026 and Berkshire completes the $9.7 billion purchase of OxyChem from Occidental on January 2. On September 18, 2026 Buffett is named Chairman Emeritus and remains a director, and his son Howard G.

27. 2026Sysco

    Jetro Restaurant Depot deal announced

    Sysco agreed to acquire Jetro Restaurant Depot for an enterprise value of about $29.1 billion.

28. 2026Sysco

    Fiscal 2026 sales reach $84.6B

    Sysco reported fiscal 2026 sales of $84.6 billion and guided to 6%-7% sales growth for fiscal 2027.

Acquisitions

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