The Haslam family has completed the sale of its remaining Pilot gas stations — not its truck stops — to Casey’s General Store, the third-largest convenience store company in the U.S.
Casey’s, an Iowa-based chain, completed the 40-store sale Thursday. The cash sale was previously valued at about $220 million.
The sale gives Casey’s an immediate and significant entrance into the Knoxville market in the midst of its goal to add 345 stores by 2023.
More about Casey’s: Haslam family selling remaining gas stations — not truck stops
The Haslams remain significant shareholders and leaders in Pilot, headquartered in Knoxville.
Customers pump gas at a Pilot gas station located at 136 N. Northshore Drive in Knoxville on Tuesday, Sept. 28, 2021.
“We are pleased to complete this transaction and expand our footprint in Tennessee and Kentucky,” Darren Rebelez, president and Chief Executive Officer of Casey’s, said in a press release. “The Haslam family and the Pilot team have been great to work with and we look forward to welcoming team members to Casey’s and bringing our hand-made pizza program to these excellent stores.”
When will Casey’s gas stations come to Knoxville?
Casey’s General Stores will purchase 38 Pilot convenience stores in Knoxville from the Haslam family, the company announced Sept. 28. It will be the first time Casey’s has entered the Knoxville market.
Customers will see the local Pilot gas stations, for example the ones at 136 N. Northshore Drive and 8541 Middlebrook Pike, begin to change branding in mid-January and over the course of a few months.
Pilot’s 450 team members at the sold stores will join the Casey’s team, according to a statement from Pilot, and are receiving information about onboarding and benefits.
The sale to the publicly traded company was announced in late September.
Details of the Haslams’ sale to Casey’s
The Haslams’ sale to Casey’s included 38 gas stations mostly in the Knoxville area and two smaller truck stops located in Nashville and Kentucky.
These 40 locations were part of a separate corporation owned by the Haslam family, not Pilot, which is partially owned by Berkshire Hathaway.
Truck stops, known as travel centers by Pilot, are larger than gas stations and serve both travelers and tractor-trailers along the interstate. The sale does not impact Pilot’s truck stops across North America or in Knoxville.
It’s the first time since the 1970s the Haslam family has not owned a gas station, referred to by Pilot as convenience stores.
Pilot now employs more than 1,400 people in the Knoxville area, down from about 1,900, a spokesperson previously told Knox News.
“Pilot and the Haslam family will always be committed to the Knoxville community, philanthropic efforts and being a top employer in the region,” according to a statement from Pilot.
Casey’s is a Fortune 500 company with more than 2,400 convenience stores and 40,000 employees nationwide. Its brand touts friendly service and handmade pizza.
Pilot is ranked No. 10 on Forbes’ list of America’s largest private companies and employs about 28,000 people nationwide.
Now that Pilot is out of the gas station game, chairman Jimmy Haslam previously told Knox News it would continue to grow its energy business, PFJ Energy, which supplies more than 12 billion gallons of fuel annually, and its truck stop network, which has more than 800 locations across North America.
Berkshire Hathaway invested in Pilot in 2017 and is on track to own a majority share of the company by 2023. It owns 38.6%, the Haslams own 50.1% and private holding company FJ Management owns 11.3%.
James A. Haslam II is chairman emeritus and Whitney Haslam Johnson holds a board seat and is Pilot’s chief experience officer, in addition to Jimmy Haslam’s role as chairman.
Business Growth and Development Editor Brenna McDermott can be reached at [email protected]. Follow along with her work on Twitter @_BrennaMcD. Support our local news efforts by becoming a Knox News subscriber.
This article originally appeared on Knoxville News Sentinel: Casey’s General Store buys Knoxville Pilot gas stations Haslam family
Source: https://news.yahoo.com/haslam-family-sells-last-pilot-145550794.html
