The Warren Buffet-led company has taken control of the remaining 20% interest in one of the largest travel centre operators in the US.
The
Haslam Family has closed the sale of its remaining 20% interest in Pilot Travel
Centers to Berkshire Hathaway. The company, led by Warren Buffet, has now taken
full control of the travel center franchise.
"Pilot
started with one gas station 65 years ago, and because of the dedicated and
exceptional team members we have had throughout our history, it is now an
industry leader. While this has certainly been an emotional decision for us, it
is one we felt was right for our family at this time,” said Jim Haslam II,
founder of Pilot Travel Centers.
The pilot was founded in Gate City, Virginia in 1958 by Jim Haslam II. Over the last six
decades, the company's network expanded rapidly through organic growth as well
as through a series of strategic transactions and the merger of Pilot Travel
Centers with Flying J in 2010.
"We
will always consider the Pilot Flying J team as a family, and we wish them
success as they continue to develop the best travel centre network in North
America and keep America moving," added Jimmy Haslam, CEO and Chairman of
Pilot Corporation.
Currently,
Pilot is one of the largest operators of travel centers in North America with
more than 750 locations across 44 states and six Canadian provinces. The
company sells close to 14bn gallons of fuel a year, and approximately $3bn in
food and merchandise.
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