KNOXVILLE, Tenn. – Berkshire Hathaway Inc. and Pilot Flying J jointly announced that Berkshire has made a significant minority investment in Pilot Travel Centers LLC. The Haslam family will continue to own a majority of Pilot Flying J with Jimmy Haslam remaining as CEO. 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, Tenn.

“Pilot Flying J is built on a longstanding tradition of excellence and an unrivaled commitment to serving North America’s drivers,” said Warren Buffett, chairman, president and CEO of Berkshire Hathaway, in a press release. “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.”

Pilot Flying J is the largest operator of travel centers in North America, with more than 27,000 team members, 750 locations across the United States and Canada, and more than $20 billion in revenues. The investment will expand Pilot Flying J’s opportunities for growth, as the company remains committed to delivering outstanding service for the trucking industry, professional drivers, local communities and interstate travelers across North America.

“Given the impeccable reputation of Warren Buffett’s Berkshire Hathaway, and our shared vision and values, we decided this was an ideal opportunity,” said Haslam. “As a family business that has evolved and prospered over the last six decades, we knew that any potential partner would need to share our commitment and have a proven track record as a long-term investor. We have that in Berkshire Hathaway – they believe in our strategy, support our team and are excited to see Pilot Flying J grow.”