Berkshire Hathaway has moved from a minority ownership stake to a majority ownership stake in Pilot Company, the largest operator of truck stops and rest stops in North America.
In January, Berkshire acquired its long-planned 80 percent equity position in Pilot from the Haslam family, and the family continues to have a 20 percent stake in the company.
In 2017, Berkshire took a 38.6% stake in Pilot, which has 800 locations under the Pilot and Flying J brands.
Pilot is currently in the midst of its three-year $1 billion New Horizons project that is its most significant investment in store modernization to date. It will fully remodel more than 400 Pilot and Flying J travel centers and make additional upgrades at several more locations across the country.
© 2023 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.