• Pilot Says Name Change Reflects Plans for Further Growth

  • Pilot Says Name Change Reflects Plans for Further Growth

    Pilot Flying J has been growing in recent years, and now the company has
    announced a minor name change that it says reflects that activity and sets the
    stage for future expansion.

    Pilot on Thursday said its new corporate name -- Pilot Company -- "will serve
    as an umbrella that captures the total portfolio of the business as it
    continues to expand its retail and energy operations."

    The company's network of Pilot and Flying J Travel Centers will continue to
    operate under those brands. The One9 Fuel Network will also continue to operate
    under that name, said Stephanie Myers, supervisor, external communications for
    Pilot.

    The name change comes as Pilot has been steadily expanding its operation in
    recent years. In August, OPIS reported that the company was involved in a $300
    million deal with NGL Energy Partners to purchase some assets of TransMontaigne
    Product Services with an eye toward using them to launch a much more
    substantial business in wholesale rack marketing and trading. Pilot hasn't
    acknowledged the purchase publicly.

    In November 2018, the company expanded its operations in the exploration and
    production sector as its PDPS LLC subsidiary purchased equity interests in well
    site services company Equipment Transport LLC. That move came a month after
    Pilot acquired Bridger Environmental Services LLC, a water disposal platform,
    and the crude transportation assets of Bridger Transportation.

    "We are an innovative company that is the leader in the supply and distribution
    of fuel in North America. As the industry evolves, it's important that we do as
    well. We must continue to expand our business and develop more capabilities
    that enable us to successfully serve our team members and guests," said company
    CEO Jimmy Haslam. He said the name change "is another step in our company's
    bright future."

    The Knoxville, Tennessee-based company says it supplies more than 11 billion
    gal of fuel per year.

    It operates more than 900 retail and fueling locations, with its Pilot Flying J
    travel center network including locations in 44 states and six Canadian
    provinces. In the United States, the Pilot J brand ranks 18th in market share,
    with 516 outlets controlling a 1.14% market share, according to OPIS
    MarketsharePro data for the last year. Its Flying J brand ranks 41st with 206
    outlets controlling a market share of 0.41%, according to the OPIS data.

    The company's One9 Fuel Network serves fleets and professional drivers. The
    company is ranked No. 10 on Forbes' list of America's Largest Private
    Companies.

    --Steve Cronin, scronin@opisnet.com


    Copyright, Oil Price Information Service

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