FJ Management#Re-entry into convenience store market

The company was founded in 1968 by O. Jay Call and headquartered in Ogden, Utah. A lifelong fan of aviation, Call named it Flying J in honor of the aviation industry.{{cite web |url=http://ptcchallenge.com/2010/08/pilot-flying-j-merger/ |title=Pilot Flying J Merger - PTC Challenge |access-date=2010-08-05 |url-status=dead |archive-url=https://web.archive.org/web/20110715131317/http://ptcchallenge.com/2010/08/pilot-flying-j-merger/ |archive-date=2011-07-15 }} Mr. Call, Richard "Buzz" Germer and his wife Ilene, died while piloting a Cessna Citation en route to Sun Valley in March 2003.{{cite web|url=https://www.deseretnews.com/article/970812/Flying-J-founder-dies.html|archive-url=https://web.archive.org/web/20150420001159/http://www.deseretnews.com/article/970812/Flying-J-founder-dies.html|url-status=dead|archive-date=April 20, 2015|title=Flying J founder dies|date=17 March 2003|website=DeseretNews.com}}

File:Flying J.png.]] The company ranked 13th on Forbes{{'}} 2009 list of the largest privately held companies in the U.S.with 2008 revenues of approximately $18.00 billion.{{cite news| url=https://www.forbes.com/lists/2009/21/private-companies-09_Americas-Largest-Private-Companies_Rank.html | work=Forbes | title=America's Largest Private Companies | date=2009-10-28}}

It sought Chapter 11 (reorganization) bankruptcy protection in December 2008, blaming its financial woes on the collapse in oil prices and tighter credit markets. Pre-bankruptcy, Flying J was the largest retailer of diesel fuel in North America with approximately 220 locations in the United States and Canada and 15,000 employees. The company produces and refines petroleum products for its truck stops. The company also offers vehicle maintenance, banking, insurance and telecommunications services for the trucking industry, and a number of restaurants at its locations.

The company had record sales for a privately held company in the industry of $18.0 billion in 2008, but later climbing prices for crude oil and a crumbling demand for gasoline eroded margins and affected cash flow.{{cite news | url=https://www.forbes.com/lists/2009/21/private-companies-09_Americas-Largest-Private-Companies_Rank.html | work=Forbes | title=America's Largest Private Companies | date=2009-10-28}} The company's plans for travel plazas have occasionally met opposition from local residents concerned about traffic safety and other issues.{{cite news|url=http://www.mlive.com/news/grpress/index.ssf?/base/news-8/117095010141290.xml&coll=6|title=Residents want Flying J to go away|date=2007-02-08|author=Myron Kukla|publisher=Grand Rapids Press|access-date=2007-02-14|url-status=dead|archive-url=https://web.archive.org/web/20070930181454/http://www.mlive.com/news/grpress/index.ssf?%2Fbase%2Fnews-8%2F117095010141290.xml&coll=6|archive-date=2007-09-30}}{{cite news|url=http://www.bradenton.com/mld/bradenton/news/nation/16500810.htm|title=New Haven will ask state's high court to take Flying J case|author=Ryan Lengerich|date=2007-01-19|publisher=Bradenton Herald|access-date=2007-02-14}} {{Dead link|date=October 2010|bot=H3llBot}} In 2006 Flying J associated with Shell Canada to improve highway services in Canada.{{cite web|url=http://www.flyingj.com/company/press/SFJ_press_release.pdf |title=Flying J and Shell Canada Announce Partnership |date=2006-09-07 |publisher=Flying J Inc. |access-date=2007-10-31 |url-status=dead |archive-url=https://web.archive.org/web/20080625111144/http://www.flyingj.com/company/press/SFJ_press_release.pdf |archive-date=June 25, 2008 }}

In July 2009, Pilot Travel Centers agreed to acquire Flying J's travel stops.{{cite news|url=https://www.forbes.com/feeds/ap/2009/07/14/ap6654912.html |title=Pilot to acquire Flying J's 250 travel centers |author=Duncan Mansfield |date=2009-07-14 |publisher=Associated Press |access-date=2009-07-15 }}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}} As part of the deal, Pilot will keep the Flying J name on existing locations as opposed to converting them to the Pilot brand, while the in-house Flying J restaurants will be replaced by national chains like Denny's.{{cite web |url=http://www2.tbo.com/content/2009/nov/04/dennys-open-flying-j-pasco/ |title=Denny's to open at Flying J in Pasco |access-date=2010-08-31 |url-status=dead |archive-url=https://web.archive.org/web/20121007231610/http://www2.tbo.com/business/breaking-news-business/2009/nov/04/dennys-open-flying-j-pasco-ar-56194/ |archive-date=2012-10-07 }} The merged entity is called Pilot Flying J.

File:Maverik branded gas pump in Gillette, Wyoming.jpg]]

In June 2010, Flying J put forth a Chapter 11 plan to repay all creditors in full from the proceeds of the sale of its 250 travel plazas to Pilot, for a combination of cash and stock valued at $1.6 billion. Under Flying J's plan, its lenders and creditors will be paid in cash, and its owners, whose numbers include members of the company's founding Call family, will retain all the equity in a scaled-down Flying J. As of July 2010, hearings on the plan continue under Judge Mary F. Walrath of the U.S. Bankruptcy Court in Wilmington, Delaware.{{cite news| url=https://www.wsj.com/article/BT-CO-20100628-710961.html | work=The Wall Street Journal | title='Hot Fuel' Claimant Balks At Flying J Bankruptcy-Exit Plan | date=2010-06-28}} {{Dead link|date=April 2011|bot=RjwilmsiBot}} Flying J's oil and refining, banking, and insurance businesses will remain separate from the combined Pilot Flying J.{{Cite web |url=http://www.standard.net/topics/business/2010/07/01/merger-official-today-two-companies |title=Topics | Standard-Examiner |access-date=2010-07-01 |archive-date=2017-06-30 |archive-url=https://web.archive.org/web/20170630075144/http://www.standard.net/topics/business/2010/07/01/merger-official-today-two-companies |url-status=dead }} To avoid confusion with the merged travel center business, Flying J Inc. renamed itself FJ Management Inc.. Since the merger, Pilot Flying J has continued to open new locations with the Flying J name (in addition to the Pilot name), bringing in locations with the Flying J brand that had no association with the legacy Flying J before the merger.

To settle antitrust concerns, six Flying J locations as well as 20 Pilot locations were sold to Love's Travel Stops & Country Stores on June 30, 2010.{{cite web | url=http://www.csnews.com/top-story-pilot__flying_j_finalize_merger-56010.html |title=Pilot, Flying J Finalize Merger - Business Focus - Convenience Store News |access-date=2011-07-26 |url-status=dead |archive-url=https://web.archive.org/web/20120712192841/http://www.csnews.com/top-story-pilot__flying_j_finalize_merger-56010.html |archive-date=2012-07-12 }}

On October 3, 2017, it was announced that Berkshire Hathaway would acquire a 38.6% stake in Pilot Flying J, with plans to increase the stake to 80% by 2023. The Haslam family's stake will be reduced to 20% at that time, while FJ Management will sell its stake altogether.

On October 4, 2012, FJ Management re-entered the convenience store market with its purchase of Maverik Inc., a gas station/convenience store chain headquartered in Salt Lake City, Utah.{{cite news | url=https://csnews.com/maverik-acquires-best-stop-convenience-stores| title=Maverik Acquires Best Stop Convenience Stores| date=September 26, 2018| work=Convenience Store News}} The company was founded in 1928 by Jay Call's uncle, Reuel Call, in Afton, Wyoming.{{Cite web |last=Jean |first=Renée |date=2023-09-05 |title=Wyoming-Born Maverik Rebrands 400 Kum & Go Stores In Wake Of Sale |url=https://cowboystatedaily.com/2023/09/05/wyoming-born-maverik-buys-kum-go-doubles-to-800-stores/ |access-date=2023-09-06 |website=Cowboy State Daily |language=en}}

In April 2023, FJ Management acquired Kum & Go and Solar Transport from Krause Group.{{Cite web |last=Boland |first=Taylor |date=2023-04-21 |title=Maverik – Adventure's First Stop to Acquire Kum & Go and Solar Transport from Krause Group |url=https://www.kumandgo.com/strongmaverik-adventures-first-stop-to-acquire-kum-amp-go-and-solar-transport-from-krause-group-strong/ |access-date=2023-04-24 |website=Kum & Go |language=en-US}}{{Cite web |date=2023-04-21 |title=Maverik acquires Kum & Go to expand convenience stores into Midwest |url=https://www.fox13now.com/news/local-news/maverik-acquires-kum-go-to-double-convenience-store-locations |access-date=2023-04-24 |website=FOX 13 News Utah (KSTU) |language=en}}{{Cite web |last1=Williams |first1=Carter |last2=Aug. 29 |first2=KSL com {{!}} Posted- |last3=P.m |first3=2023 at 7:08 |title=Kum & Go's Utah locations to be rebranded as Maverik gas stations |url=https://www.ksl.com/article/50719484/kum--gos-utah-locations-to-be-rebranded-as-maverik-gas-stations |access-date=2023-08-30 |website=www.ksl.com |language=en}}

In May 2024, Maverik announced plans to open its first Kansas location in Edgerton.{{Cite web |title=City of Edgerton to get new major travel center, gas station off I-35 |url=https://www.kctv5.com/2024/05/10/city-edgerton-get-new-major-travel-center-gas-station-off-i-35/ |access-date=2024-05-12 |website=kctv5.com|date=10 May 2024 |language=en}}

As of October 2024, Maverik has more than 400 locations across 13 states, making it the largest independent fuel marketer in the Intermountain West.{{Cite web | url=https://maverik.com |publisher =Maverik Inc. |access-date=2024-10-13}}

{{Reflist}}

• {{official website|http://fjmgt.com}}

{{Trucking industry in the United States}}

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Category:Privately held companies based in Utah

Category:Companies based in Ogden, Utah

Category:Truck stop chains

Category:Automotive fuel retailers

Category:Gas stations in the United States

Category:Gas stations in Canada

Category:1968 establishments in Utah

Category:Retail companies established in 1928

Category:Restaurants established in 1928

Category:Companies that filed for Chapter 11 bankruptcy in 2008

Category:Convenience stores of the United States