Pilot Flying J Selling to Berkshire
By 2023, Berkshire Hathaway will become the majority shareholder of truck stop giant Pilot Flying J. With 750 locations, Warren Buffett’s investment company will own 80% of the stock. They have entered an agreement with the Haslam family to purchase 38.6 % of the stock now. In 2023, Berkshire will buy another 41.4 %, to control 80% of the stock. Pilot Flying J employs more than 27,000 people, and has an annual revenue of over $20 billion. CEO, Jimmy Haslam, also owns the NFL’s Cleveland Browns. His brother, William, is currently the governor of Tennessee.
Source:wikemedia commons/transport topics