Oriental Trading Company

In 1977, Terrance Watanabe became publicly recognized when he took over as president and part owner of Oriental Trading Company, which was founded by his father Harry in 1932. Started as a gift shop in Omaha, Nebraska, it eventually expanded to multiple shops across the midwest, providing value-priced party supplies, toys, arts and crafts, and novelties, as well as school supplies. In 2000, Terry Watanabe sold his entire stake in the company to Brentwood Associates, a Los Angeles-based private equity firm. He resigned as CEO and president, and went on to pursue philanthropic endeavors. In 2006, the Carlyle Group acquired 68% interest in the company. Four years later, Oriental Trading Company declared Chapter 11 bankruptcy protection. Subsequently, in 2012, it was acquired by the holding company Berkshire Hathaway.