Pilot Flying J is one of the largest truck stop operators in the U.S.
On Tuesday, Warren Buffett’s Berkshire Hathaway Inc stated it is buying a 38.6% stake in Pilot Flying J, one of the largest truck stops operators in the country.
It plans on eventually having a controlling stake in the company.
According to Berkshire, the Haslam family will retain its 50.1% majority stake while the Maggelet family will retain a 11.3 % stake in the company, until 2023.
In 2023, Berkshire plans on acquiring an additional 41.4% stake in Pilot Flying J and become its majority shareholder while the Haslam family will maintain a 20% ownership in the company.