Berkshire Hathaway has acquired the final 20% ownership interest in Pilot Travel Centers from the Haslam family, according to an announcement made Tuesday.

“Berkshire Hathaway now owns 100% of Pilot Travel Centers,” Berkshire said in a statement that also said the sale by the Haslams’ Pilot Corp. was “effective today.”

In separate transactions during 2017 and 2023, Berkshire Hathaway spent $11 billion to buy out the majority stake in the company, reported CNBC. Following the 2023 transaction, the Haslam family could compel Berkshire Hathaway to buy the final 20% during a 60-day window each year, at a sales price equal to 10 times Pilot Travel Centers’ stated earnings during the previous year.

The two companies recently settled a lawsuit that discussed concerns over the valuation of the remaining stake, and the sale terms were not disclosed.

“Pilot started with one gas station 65 years ago, and because of the dedicated and exceptional team members we have had throughout our history, it is now an industry leader,” said Jim Haslam II in a statement announcing his family’s sale of that stake.

“While this has certainly been an emotional decision for us, it is one we felt was right for our family at this time. We look forward to continuing to support our lifelong home of Knoxville, Tennessee, and to furthering our deep commitment and philanthropy throughout the region that we all love,” he said.

Pilot Travel Centers is the largest operator of travel centers in North America with over 750 locations under the Pilot and Flying J brands.

In December, the Pilot Company celebrated completing 100 remodels under its New Horizons initiative.