Warren Buffett will soon have a minority stake in the Flying J, and by the year 2023 be a majority owner in the private firm.
The buy would include the Flying J Travel Center along Illinois 15 in Alorton. Pilot Flying J has 750 locations and more than 27,000 employees. Terms of the deal were not disclosed.
Warren Buffett, of investment giant Berkshire Hathaway, will keep Jimmy Haslam, CEO of the Flying J, on through 2023.
“Jimmy Haslam and his team have created an industry leader and a key enabler of the nation’s economy. The company has a smart growth strategy in place and we look forward to a partnership that supports the trucking industry for years to come,” Buffett said in a news release.