Haslam family acquires CVS' stake of Pilot Flying J

Pilot Flying J CEO James Haslam and his relatives have acquired all shares that private-equity firm CVC Capital Partners held in the truckstop company, the largest in the country.

CVC had acquired a 47.5% of the shares of Pilot Travel Centers in 2008, as Marathon Oil Corp sold their stake. In 2010, Pilot Travel Centers bought rival Flying J Inc, reported The Wall Street Journal.

“Over the years, Pilot, now Pilot Flying J, has had multiple partnerships which began with the expectation of the partner exiting at some point," told CSP Daily News a company spokesperson. "That time has come in Pilot Flying J's partnership with CVC, which has been a very satisfying relationship since 2008."

The largest truck stop operator in the U.S. was founded back in 1958 by Haslam´s father. The Haslam family is one of Tennessee´s wealthiest, with James being the owner of the Cleveland Browns football team, and his brother, Bill Haslam, the governor of Tennessee.

Pilot Flying J is the largest operator of travel centres and travel plazas in North America with more than 650 retailing sites.