In recent years, Pilot Co. began an ownership transition that will culminate in the company becoming majority owned by investment holding giant Berkshire Hathaway in 2023.
Berkshire Hathaway bought a 38.6% stake in Pilot Flying J in October 2017 for $2.76 billion. While having little involvement in strategy at Pilot Co., according to company executives, Berkshire Hathaway will grow its ownership stake to 80% over the next two years.
Also in 2017, Pilot announced a $485 million investment to renovate its existing locations over the next five years, focusing on "replacing our signs and canopies with our new logo and updating site and canopy lighting to all LED, enhancing the exterior look and feel of our stores, including adding stone, tile and stucco to our exteriors, replacing floor tiles, ceilings and lighting where needed."
In November 2019, Pilot Flying J launched the One9 Fuel Network, a nationwide fueling network aimed at smaller fleets. The network gives professional drivers and trucking companies access to personalized credit and reward benefits with a variety of travel-center brands. As of the end of 2020, the network includes 241 Pilot and partner locations.
The company changed its name from Pilot Flying J to Pilot Co. in January 2020, as the company aimed to bring all of its related brands--travel centers, truck service centers, the fuel network, logistics and more--under one corporate identity.
And in July 2020, as CEO and owner Jimmy Haslam looked to step away from the day-to-day oversight of the company, he announced that he would become chairman of the company as of Jan. 1, 2021, promoting Shameek Konar, most recently chief strategy officer, to CEO.
Brands include Pilot, Flying J, Xpress Fuel and Mr. Fuel.
For benchmarking purposes, store counts are as of Jan. 1, 2021.
|No. of Stores:||754|
|Rank Last Year:||12|