Pilot Flying J | |
Company type | Private (Subsidiary) |
Industry | truck stop, convenience store, petroleum, restaurant |
Founded | 1981 November 15, 1993 (as Pilot Travel Centers, LLC) July 1, 2010 (as Pilot Flying J) | (as Pilot Truck Stops)
Founder | Jim Haslam |
Headquarters | Knoxville, Tennessee, U.S. |
Number of locations | 838 (2023) |
Areas served | United States and Canada |
Key people | Adam Wright, CEO |
Revenue | US$45 billion (2021) |
Owners | Berkshire Hathaway |
Number of employees | 26,000+ |
Divisions |
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Website | pilotflyingj |
Footnotes /references [1] |
Pilot Travel Centers LLC, [2] doing business as Pilot Flying J, is a North American chain of truck stops in the United States and Canada. The company is based in Knoxville, Tennessee. The company is owned by Berkshire Hathaway. [1] [3] [4]
The company operates truck stops under the Pilot Travel Centers, Flying J Travel Plaza, ONE9 Fuel Network, and Mr. Fuel brands. [5] [6] [7]
Pilot Corporation opened its first truck stop in 1981. On November 15, 1993, Pilot entered a joint venture with Marathon Petroleum Company, and all Pilot Truck Stops were renamed Pilot Travel Centers. At its inception, the number of stops was around 60; however, that was to be short-lived.
In the next few years, Pilot Travel Centers experienced significant growth. Marathon converted many Speedway truck stops, wholly owned by Marathon, over to the Pilot Travel Center moniker starting in mid-2002. Midway through 2003, another major expansion occurred with the purchase of the Williams Truck Stop chain. The Marathon-Pilot joint venture successfully increased the Pilot Travel Center name recognition throughout the United States, as the number of stops more than quadrupled.
In 2008, Pilot bought out Marathon's interest in the business and entered into a new partnership arrangement with CVC Capital Partners, an international private equity firm. [8] Pilot also has partnerships with Road Ranger and Town 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 completed the buyout of CVC Capital Partner's stake. [10]
In July 2009, Pilot agreed to purchase Flying J's travel centers, as a part of Flying J's efforts to remove itself from Chapter 11 bankruptcy. [11] The deal was finalized July 1, 2010, and the combined company took the d.b.a. name Pilot Flying J, [12] while Pilot Travel Centers LLC remained the company's legal name. [2]
As part of the deal, both the Pilot and Flying J chains will keep 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 & refining operations as well as its banking & insurance division will remain separate from the new company, [13] and was subsequently renamed FJ Management Inc. [14]
To settle antitrust concerns with the Federal Trade Commission, Pilot sold 20 Pilot Travel Centers locations and six Flying J locations to Love's Travel Stops & Country Stores on June 30, 2010. [15] The merger left the combined company with over 550 locations in 44 U.S. states and six Canadian provinces. [16] In 2011, Pilot Flying J began a partnership with Truckers Against Trafficking. [17]
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 former Wilco Hess locations) and 79 Pilot Flying J locations primarily in the Southeastern United States form PFJ Southeast LLC. The locations will be operated by Pilot Flying J and the Speedway locations will be rebranded as either Pilot or Flying J. [18]
On October 3, 2017, it was announced that Warren Buffett-controlled Berkshire Hathaway will 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% to Berkshire Hathaway. [19]
Currently, Pilot Flying J is the largest purveyor of over-the-road diesel 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, & Mr. Fuel brands. Pilot Flying J is also the third largest franchiser of quick service restaurants in the nation, offering one to three different concepts at each location, making it the largest franchisee of Subway 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 with Denny's, as do a small handful of Pilot-branded locations.
Pilot Flying J's main restaurants include Arby's, Chester's Chicken, Dairy Queen, Denny's, Hardee's, McDonald's, Pizza Hut, Subway, Taco Bell, Wendy's, and Cinnabon. Recently they have also added Huddle House (full-service restaurants), Moe's Southwest Grill, and Dunkin Donuts.
Pilot Flying J's main competitors include Love's Travel Stops, Travel Centers of America, Stuckey's, Roady's Truck Stops, and TA-owned Petro Stopping Centers.
In 2012, the company signed country music singer Trace Adkins to become its new spokesperson for its relaunched loyalty program. [20] In addition to Adkins, the company has a NASCAR sponsorship with JR Motorsports driver Michael Annett as the primary sponsor for Annett's number 1 Chevrolet Camaro in NASCAR's Xfinity Series. In 2015 and 2016, the company sponsored Annett in the number 46 Chevrolet SS for HScott Motorsports in NASCAR's Sprint Cup Series and in 2014 the company sponsored Annett in the number 7 Chevrolet SS for Tommy Baldwin Racing. [21] In 2013, the company sponsored Annett in the Richard Petty Motorsports number 43 Ford Mustang in NASCAR's Nationwide Series. [22] In 2016, the company was the title sponsor for the "Battle at Bristol" at Bristol Motor Speedway. [23]
Amenities featured at Pilot Flying J locations include: [24]
At some locations, Pilot Flying J offers truck maintenance through garages operated by third-party companies. Wingfoot Truck Care Centers, operated by the Goodyear 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 Northern Great Plains region. Before the deal, Bosselman bought diesel fuel from Pilot and continues to do so for its remaining travel center location in Grand Island, Nebraska. [25]
In 2005, Pilot Flying J joined forces with Victory 500 marketing to publish Challenge magazine, a magazine aimed at professional truckers and sold exclusively at Pilot Flying J travel centers as well as by subscription. [26] The magazine ceased publication after 110 issues in December 2014. [27]
On April 15, 2013, the headquarters of Pilot Flying J, located in Knoxville, Tennessee, was raided by FBI and IRS 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. [28]
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. [29] [30] Three sales employees' private homes were also raided as part of the investigation. [31]
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. [32] Pilot Flying J paid restitution to customers and agreed to pay a $92 million penalty pursuant to a Criminal Enforcement Agreement. [33]
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Founded in 1839 as a textile manufacturer, it underwent a drastic restructuring into a conglomerate starting in 1965 under the leadership of chairman and CEO Warren Buffett and vice chairman Charlie Munger. Today, the company's earning power is diversified across a broad portfolio of subsidiaries, equity positions and other securities. Insurance is a major area of operations and the float generated serves as an important source of capital. Buffett and Munger are known for their advocacy of value investing principles and under their direction, the company's book value has grown at an average rate of 20%, compared to about 10% from the S&P 500 index with dividends included over the same period, while employing large amounts of capital and minimal debt.
Speedway is an American convenience store and fuel station chain headquartered in Enon, Ohio, with locations primarily in the Midwest and the East Coast regions of the United States wholly owned and operated by 7-Eleven. Speedway stations are located in 36 states, up significantly from its core seven-state region in the Midwest since 2012. Prior to 2021, the company was a wholly owned subsidiary of the Marathon Petroleum Corporation. It is the largest convenience store chain in central Ohio.
William Edward Haslam is an American billionaire businessman and politician who served as the 49th governor of Tennessee from 2011 to 2019. A member of the Republican Party, Haslam previously served as the 67th mayor of Knoxville, Tennessee.
A truck stop, known as a service station in the United Kingdom, and a travel center by major chains in the United States, is a commercial facility which provides refueling, rest (parking), and often ready-made food and other services to motorists and truck drivers. Truck stops are usually located on or near a busy road.
Casey's Retail Company is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines. As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the 3rd largest convenience store chain in the United States and the largest that is wholly American-owned. It is one of two Iowa-based Fortune 500 companies. Casey's is famous for their pizza including a breakfast pizza and a taco pizza resulting in Casey's being the fifth largest pizza chain in the U.S.
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968. Leon Hess was CEO from the early 1960s through 1995, after which his son John B Hess succeeded him as chairman and CEO. The company has agreed to be acquired by rival oil company Chevron.
FJ Management Inc., formerly known as Flying J Inc., is a privately held American corporation which operates convenience stores, oil & refining, banking, and insurance businesses. Along with Pilot Corporation and Berkshire Hathaway, it was a joint-owner of Pilot Flying J, and Maverik convenience stores.
Pilot Company is an American petroleum corporation headquartered in Knoxville, Tennessee. Pilot operates the Pilot Food Mart convenience stores in Tennessee. Along with Berkshire Hathaway, Pilot is joint-owner of Pilot Flying J, the largest truck stop chain in the United States. FJ Management formerly owned a stake, but sold its stake in Pilot Flying J to Berkshire Hathaway.
Road Ranger is a Schaumburg, Illinois-based chain of travel centers, truck stops and convenience stores primarily found in the mid-western United States.
James Arthur Haslam II is an American businessman and philanthropist, best known as the founder of Pilot Corporation, which operates a chain of convenience stores and travel centers throughout the United States and Canada, and is one of the largest privately owned companies in the United States. Haslam is also a donor for the University of Tennessee, having provided tens of millions of dollars to the school over several decades. Haslam's son Jimmy is the current owner of the National Football League's Cleveland Browns and Major League Soccer's Columbus Crew, and his other son Bill is a former Governor of Tennessee.
A.T. Williams Oil Co. was a gas station chain based in Winston-Salem, North Carolina. It was started by Arthur Tab Williams Jr. in 1963. In the 21st century it operated in a joint venture as WilcoHess.
Michael Wayne Annett is an American retired professional stock car racing driver. He last competed in the NASCAR Xfinity Series, driving the No. 1 Chevrolet Camaro for JR Motorsports.
Love's Travel Stops & Country Stores, doing business as Love's, is an American family-owned and -operated chain of more than 630 truck stops in 42 states in the United States. The company is privately owned and headquartered in Oklahoma City. Love's ranked No. 10 on the 2022 Forbes list of America's largest private companies. Love's has two primary kinds of stores: country stores and travel stops. Country stores are fueling stations with a convenience store attached. The larger travel stops are located along highways and offer additional amenities such as food from restaurant chains such as Arby's, Bojangles, Burger King, Chester's, Dunkin', McDonald's, Taco John's, Subway, Wendy's, Hardee’s/Carls Jr., truck parking spaces, showers and laundry. The company started adding RV hookups and RV Stops in 2022. Love's had more than 40,000 employees in 2023.
The Herald & Review is a daily newspaper based in Decatur, Illinois. It is owned by Lee Enterprises.
IdleAir, a division of Convoy Solutions LLC, is a company that provides in-cab services to truckers via centralized systems at truck stops around the United States. IdleAir's service, the patented Advanced Travel Center electrification (ATE), was more complex and more expensive than traditional truck stop electrification (TSE) systems which are aimed at idle reduction reducing the amount of fuel consumed by trucks while they idle during rests.
James Arthur Haslam III is an American businessman and sports executive. He is the chairman of the board of the Pilot Flying J truck stop chain. He and his wife Dee own the Cleveland Browns of the National Football League (NFL), the Columbus Crew of Major League Soccer (MLS), and a stake in the Milwaukee Bucks of the National Basketball Association (NBA). Haslam has won two MLS Cup Championships as owner of the Crew.
Jamestown is an unincorporated community located along Interstate 40 in McKinley County, New Mexico, United States. El Paso Natural Gas Company built a refinery at the Continental Divide in New Mexico around the area of 35.48698357712149, -108.4264608980443. The refinery was known locally as the Gallup Refinery or the Ciniza Refinery. By 1964, El Paso Gas sold the refinery to the Shell Oil Company. Then in 1982, Giant Oil Refining purchased the refinery from Shell. In 1987. Giant built the largest truck stop and retail facility in their chain one mile south from the refinery. On June 7, 2003, Giant sold its travel center in Jamestown to Pilot Travel Centers. Pilot Travel Center #305 houses Jamestown's post office; the post office has ZIP code 87347.
Susan "Dee" Haslam is an American businesswoman. She is the founder and executive producer of RIVR Media and CEO of the Haslam Sports Group. Dee is a co-owner of the Cleveland Browns of the National Football League (NFL), along with her husband, Jimmy Haslam. The Haslams are also majority investors in the ownership group of the Columbus Crew of Major League Soccer (MLS) – with two MLS Cup champions during their tenure, and have a partial ownership stake in the Milwaukee Bucks of the National Basketball Association (NBA).
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