Berkshire Hathaway Acquires Remaining Stake in Pilot Travel Centers

The acquisition follows a lawsuit settlement over the valuation of the Pilot stake, marking the end of a six-year investment journey for Berkshire Hathaway.

Warren Buffett's Berkshire Hathaway has acquired the remaining 20% of Pilot Travel Centers from the Haslam family, making it the sole owner of the company.
The deal follows a lawsuit settlement between the two parties over the valuation of the Pilot stake.
Berkshire Hathaway initially bought a 38.6% stake in Pilot Travel Centers in 2017 for $2.8 billion, and later increased its stake to 80% in January 2023 for an additional $8.2 billion.
Pilot Travel Centers, operating under the Pilot Flying J, Pilot Travel Centers, and Mr. Fuel brands, is the fifth-largest private company in America with over 750 locations across the US and Canada.
The company's revenues jumped from about $20 billion in 2017 to $42 billion in the first nine months of last year, generating over $1 billion in annual pre-tax earnings.

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