Berkshire Hathaway Bets Big on Pilot Travel Centers
Warren Buffett's Investment Giant Completes Acquisition
Acquisition Expands Portfolio of Transportation Assets
In a major move, Warren Buffett's Berkshire Hathaway has acquired the remaining 20% of Pilot Travel Centers, the largest operator of truck stops in North America. The acquisition, finalized on Tuesday, gives Berkshire Hathaway full ownership of the company.
The purchase price was not disclosed by Berkshire Hathaway, but it was reported in October 2017 that the company agreed to acquire 38.6% of Pilot for a reported $28 billion. The deal was expanded in January 2023, with Berkshire Hathaway acquiring an additional 20% for $8.2 billion.
The acquisition of Pilot Travel Centers is a strategic move for Berkshire Hathaway, which has been investing heavily in transportation assets. The company's portfolio includes railroads, airlines, and other transportation businesses.
The investment in Pilot Travel Centers is expected to provide Berkshire Hathaway with a steady stream of revenue and enhance its transportation logistics capabilities.
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