(BRK.A), (BRK.B)
Pilot Flying J, the 14th largest private company in America, will change its corporate name to Pilot Company, according to the Haslam family.
Pilot Company will now be the umbrella name for the company’s over all business.
The change will include a new logo that that is inspired by the first Pilot gas station founded by chairman Jim Haslam.
Pilot will still operate its various brands under their current names, such as Pilot, Flying J, Mr. Fuel, PJ Fresh, Pilot Coffee, and its PFJ Energy brands, including BunkerHill, Tartan Oil, Saratoga, Pro Petroleum, and Pilot Water Solutions.
“If you pull up to a Pilot, it’s going to be a Pilot,” Haslam Johnson said on Knox News. “If you pull up to a Flying J, it’s going to be a Flying J. Same thing on the energy side of the business. So I think it’s less about that side of it and more about grounding us under one company with all of these different brands.”
Berkshire Hathaway and Pilot
In 2017, Berkshire Hathaway made a $2.76 billion investment in Pilot Travel Centers. Under the terms of the agreement, the Haslam family will continue to own a majority of Pilot Flying J and Jimmy Haslam will remain as chief executive officer. Pilot Flying J President Ken Parent and the Company’s management team will also remain in place. The Company will continue to be headquartered in Knoxville, Tennessee.
Berkshire will become the majority owner in two more years.
© 2020 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.