CLEVELAND, Ohio - Warren Buffet's investment company Berkshire Hathaway Inc. is is buying a majority stake in Pilot Flying J, the truck stop company run by Cleveland Browns owner Jimmy Haslam, the two companies announced Tuesday.
Berkshire under an initial investment will acquire a 38.6 percent equity stake in Pilot Flying J., and then acquire a majority stake in the company in 2023, the announcement said.
Pilot Flying J, headquartered in Knoxville, Tenn., describes itself as the largest operator of travel centers in North America, operating in 750 locations in the United States and Canada and with $20 billion in revenue.