Breitbart: Berkshire Hathaway, the company controlled by billionaire investor Warren Buffett, announced Tuesday morning the company is purchasing Haslam-family owned Pilot Flying J, the privately owned national truck-stop chain that had $19 billion in revenue in 2016.
The announcement comes four days after Breitbart News reported that Haslam-owned Pilot Flying J employees are headed to trial next month on federal fraud charges, and two days after Breitbart News reported that conservative Republicans in Tennessee say that Pilot Flying J appears to benefit from a gas tax increase pushed through by Tennessee Gov. Bill Haslam (R).
“Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) (‘Berkshire’) and Pilot Flying J jointly announced today that Berkshire has made a significant minority investment in Pilot Travel Centers LLC, d/b/a Pilot Flying J (‘the Company’). The Haslam family will continue to own a majority of Pilot Flying J and Jimmy Haslam will remain as chief executive officer. Pilot Flying J President Ken Parent and the Company’s management team will also remain in place. The Company will continue to be headquartered in Knoxville, TN,” the company said in a press release issued early on Tuesday:
Under the terms of the agreement, Berkshire will acquire a 38.6 percent equity stake in Pilot Flying J. The Haslam family will continue to hold a majority interest with 50.1 percent ownership in the Company and FJ Management, Inc., owned by the Maggelet family, will retain 11.3 percent ownership until 2023. In 2023, Berkshire will become the majority shareholder by acquiring an additional 41.4 percent equity stake and the Haslam family will retain 20 percent ownership in the Company and remain involved with Pilot Flying J.
Coffee at the flying J truck stop was always awful
Seems about right for Haslam to be spooning with Buffet. Probably has Lamar Alexander nuzzling in from the backside.
Pack of crooks.
I guess there must be a reason their gas prices are the cheapest.
Toss the lot of them in prison, and feed them the microwave crap they sell.
The article mentioned that Trump voters would go for Blackburn. NOPE. Not this Trump voter. She’s all bark, no bite and has been majorly squishy. It’s Marsha, Marsha, Marsha first and foremost. No thanks.
Well, how cozy. Warren “Blofeld” wins yet again, wonder if he’ll find the time and cash to pay the back taxes he owes?
Other than fuel, what will they sell after driver-less trucks appear?
He doesn’t have to worry about past taxes, as long as Beauregard is in office.
Thanks for the heads up.
If that POS king of cronyism Buffett bought them, then I will exclusively stop at their fine competitors when I drive cross-country: Sapp Bros, TA Travel Centers, Casey’s, Kum N Go, absolutely anywhere EXCEPT a Pilot or a Flying J. !!!
The list of graves to urinate on keeps growing: obola, Boehner, McCain, Ryan, McConnell, Biden, Buffett, Immelt, Musk, Jerry Brown, Holder, all Obama’s Press Secretaries, Pelosi, Sanders, the Clintons…. man, I must stay HYDRATED!
Well cat’s a real pisser…
Dats
I hate spell check
While in Texas, it’s only Buc-Ee’s for me
Anon,
You left out the military’s two biggest waiting in line……Hanoi Jane and John sKerry.
Bad coffee at a truck stop? Phuck that!!!