 | |
| Pilot Flying J | |
| Company type | Private (Subsidiary) |
| Industry | truck stop,convenience store,petroleum,restaurant |
| Founded | 1981; 44 years ago (1981) (as Pilot Truck Stops) November 15, 1993; 32 years ago (1993-11-15) (as Pilot Travel Centers, LLC) July 1, 2010; 15 years ago (2010-07-01) (as Pilot Flying J) |
| Founder | Jim Haslam |
| Headquarters | Knoxville, Tennessee,U.S. |
Number of locations | 838 (2023) |
Areas served | United States andCanada |
Key people | Adam Wright, CEO |
| Revenue |  US$45 billion (2021) |
| Owners | Berkshire Hathaway |
Number of employees | 26,000+ |
| Divisions |
|
| Website | pilotflyingj |
| Footnotes / references [1] | |
Pilot Travel Centers LLC,[2]doing business asPilot Flying J, is a North American chain oftruck stops in theUnited States andCanada. The company is based inKnoxville, Tennessee. The company is owned byBerkshire Hathaway.[1][3][4]
The company operates truck stops under thePilot Travel Centers,Flying J Travel Plaza,ONE9 Fuel Network, andMr. Fuel brands.[5][6][7]
Pilot Corporation opened its first truck stop in 1981.
On November 15, 1993, Pilot entered a joint venture withMarathon Petroleum Company, and all 60 or so Pilot Truck Stops were renamed Pilot Travel Centers.
Starting in mid-2002, Marathon converted many of itsSpeedway truck stops, to the Pilot Travel Center moniker. In 2003, Pilot Travel Centers bought theWilliams Truck Stop chain. The number of stops more than quadrupled.
In 2008, Pilot bought out Marathon's interest in the business and formed a partnership withCVC Capital Partners, an internationalprivate equity firm.[8] Pilot also has deals withRoad Ranger andTown Pump, and purchased a controlling stake in Mr. Fuel in 2014.[5] In October 2014, Pilot Flying J announced they would borrow funds to provide a $750 million dividend to shareholders and facilitate a buyout of its private-equity partner CVC Capital Partner.[9] In 2015, the Haslam family (Pilot's Founders[10]) completed the buyout of CVC Capital Partner's stake.[11]
In July 2009, Pilot agreed to purchaseFlying J's travel centers, as a part of Flying J's efforts to remove itself from Chapter 11 bankruptcy.[12] The deal was finalized for $1.8 billion on July 1, 2010, and the combined company took thed.b.a. namePilot Flying J, while Pilot Travel Centers LLC remained the company's legal name.[13][14][2]
As part of the deal, both the Pilot and Flying J chain kept their identities intact, while both chains started accepting the Comdata and Flying J's in-house TCH fuel cards. In addition, Flying J received cash and equity in the new combined chain. Flying J's oil and refining operations as well as its banking and insurance division remained separate from the new company,[15] and was subsequently renamed FJ Management Inc.[16]
To settleantitrust concerns with theFederal Trade Commission, Pilot sold 20 Pilot Travel Centers locations and six Flying J locations toLove's Travel Stops & Country Stores on June 30, 2010.[17] The merger left the combined company with over 550 locations in 44U.S. states and sixCanadian provinces.[18] In 2011, Pilot Flying J began a partnership withTruckers Against Trafficking.[19]
On June 23, 2016, Pilot Flying J and Speedway announced a new joint venture between the two companies that will see 41 Speedway locations (all formerWilco Hess locations) and 79 Pilot Flying J locations primarily in theSoutheastern United States formPFJ Southeast LLC. The locations will be operated by Pilot Flying J and the Speedway locations will be rebranded as either Pilot or Flying J.[20]
On October 3, 2017, it was announced thatWarren Buffett-controlledBerkshire Hathaway would acquire 38.6% of Pilot Flying J, with plans to increase its stake to 80% in 2023. The Haslam family and FJ Management will retain ownership stakes until then, upon which the Haslam family will retain the remaining 20% and FJ Management will withdraw altogether. The Haslam family will retain control of day-to-day operations of the company.[4] In January 2024, the Haslam family sold the remaining 20% toBerkshire Hathaway.[3]
Currently, Pilot Flying J is the largest purveyor of over-the-roaddiesel fuel in the United States. Pilot Flying J also is known as the largest Travel Center chain in the country with over 750 locations under the Pilot, Flying J, and Mr. Fuel brands. Pilot Flying J is also the third largest franchiser ofquick service restaurants in the nation, offering one to three different concepts at each location, making it the largest franchisee ofSubway in the world with over 200 locations. Unlike many travel centers and truck stops, the majority of locations with the Pilot Travel Centers brand do not utilize full-service dining. However, the Flying J brand does utilize full-service dining withDenny's, as do a small handful of Pilot-branded locations.
Pilot Flying J's main restaurants includeArby's,Chester's Chicken,Dairy Queen (until 2023),Denny's,Hardee's,McDonald's,Pizza Hut,Subway,Taco Bell,Wendy's, andCinnabon. Recently they have also addedHuddle House (full-service restaurants),Moe's Southwest Grill, andDunkin' Donuts.
Pilot Flying J's main competitors includeLove's Travel Stops,Travel Centers of America,Stuckey's,Roady's Truck Stops, and TA-owned Petro Stopping Centers.
In 2012, the company signedcountry music singerTrace Adkins to become its new spokesperson for its relaunchedloyalty program.[21] In addition to Adkins, the company has aNASCAR sponsorship withJR Motorsports driverMichael Annett as the primary sponsor for Annett's number 1Chevrolet Camaro in NASCAR'sXfinity Series. In 2015 and 2016, the company sponsored Annett in the number 46Chevrolet SS forHScott Motorsports in NASCAR'sSprint Cup Series and in 2014 the company sponsored Annett in the number 7 Chevrolet SS forTommy Baldwin Racing.[22] In 2013, the company sponsored Annett in theRichard Petty Motorsports number 43Ford Mustang in NASCAR'sNationwide Series.[23] In 2016, the company was the title sponsor for the "Battle at Bristol" atBristol Motor Speedway.[24]
Amenities featured at Pilot Flying J locations include:[25]
At some locations, Pilot Flying J offerstruck maintenance through garages operated by third-party companies. Wingfoot Truck Care Centers, operated by theGoodyear Tire & Rubber Company, provide 24-hour road service, preventative maintenance, tire service, part replacement, oil changes, and light mechanical work.
In addition to Wingfoot, Pilot Flying J also has Bosselman Boss Shop garages operated by Bosselman that provide similar services as Wingfoot. The Boss Shop partnership expanded as part of an agreement for Pilot Flying J to acquire most of Bosselman's truck stops in November 2011 in order to boost Pilot Flying J's presence in the NorthernGreat Plains region. Before the deal, Bosselman bought diesel fuel from Pilot and continues to do so for its remaining travel center location inGrand Island, Nebraska.[26]
In 2005, Pilot Flying J joined forces with Victory 500 marketing to publishChallenge magazine, a magazine aimed at professional truckers and sold exclusively at Pilot Flying J travel centers as well as by subscription.[27] The magazine ceased publication after 110 issues in December 2014.[28]
On April 15, 2013, the headquarters of Pilot Flying J, located in Knoxville, Tennessee, was raided byFBI andIRS agents as part of an "ongoing investigation". On April 16, CEO Jimmy Haslam reported the investigation involved claims of failure to pay rebates to trucking customers.[29]
On April 18, 2013, an affidavit used to secure various search warrants was made public. The documents alleged that several members of the Pilot Flying J sales force, as well as company president Mark Hazelwood, were either involved or aware of the alleged scheme.[30][31] Three sales employees' private homes were also raided as part of the investigation.[32]
On Tuesday, July 16, 2013, a federal judge in Arkansas granted preliminary approval to a proposed settlement agreement between Pilot Flying J and several trucking companies that had sued over allegations of fuel rebate fraud.[33] Pilot Flying J paid restitution to customers and agreed to pay a $92 million penalty pursuant to a Criminal Enforcement Agreement.[34]
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