FJ Management
Corporate brand
UnclaimedAmerican privately held diversified management company with businesses in convenience retail, fuel, petroleum, refining, banking, and insurance.
Last updated August 25, 2026
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Overview
FJ Management is a privately held American diversified management company formerly known as Flying J Inc. It traces its origins to 1968, when O. Jay Call founded Flying J in Ogden, Utah. Call, who had a lifelong interest in aviation, selected the Flying J name as a reference to the aviation industry. The business initially developed around fuel retailing and services for long-haul trucking, eventually becoming one of the largest operators of truck stops and diesel-fuel outlets in North America. Before its restructuring, Flying J operated approximately 220 locations in the United States and Canada and employed about 15,000 people. Its travel centers combined diesel and gasoline retailing with vehicle maintenance, restaurants, banking, insurance, telecommunications, and other services aimed at professional drivers and trucking fleets. The company also produced and refined petroleum products, giving it exposure to several parts of the energy and transportation-services value chain. Its scale made it one of the largest privately held companies in the United States; Forbes ranked it thirteenth among the country’s largest private companies based on 2008 revenue. The company encountered severe financial pressure during the 2008–2009 economic downturn. Falling oil prices, restricted credit, weakened gasoline demand, and compressed fuel margins damaged liquidity, despite reported 2008 sales of approximately $18 billion. Flying J sought protection under Chapter 11 of the United States Bankruptcy Code in December 2008. Its restructuring centered on separating the travel-center business from the company’s other activities and finding a buyer or strategic partner for the network. In 2009, Pilot Travel Centers agreed to acquire Flying J’s travel stops. The transaction created Pilot Flying J, while many existing locations retained the Flying J name. In 2010, Flying J proposed a restructuring plan under which creditors would be repaid from the proceeds of the travel-plaza transaction, valued at approximately $1.6 billion in cash and stock. Antitrust remedies required the divestiture of six Flying J sites and twenty Pilot sites to Love’s Travel Stops & Country Stores. After the transaction, the surviving Flying J corporate entity retained oil and refining, banking, insurance, and related businesses. To distinguish it from the merged travel-center operation, the company adopted the name FJ Management Inc. FJ Management later returned to convenience retailing through its 2012 acquisition of Maverik Inc., a Salt Lake City-based fuel and convenience-store chain. Maverik expanded FJ Management’s presence in the Intermountain West and became the group’s principal consumer-facing retail brand. In 2023, FJ Management acquired Kum & Go and Solar Transport from Krause Group, substantially broadening its convenience-store and fuel-logistics footprint. The Kum & Go transaction also extended Maverik’s geographic reach beyond its traditional western markets. FJ Management has also remained connected to Pilot Flying J through its historical ownership interest. Berkshire Hathaway announced in 2017 that it would acquire a 38.6 percent stake in Pilot Flying J and planned to increase its ownership to 80 percent by 2023. Under that arrangement, the Haslam family would retain 20 percent and FJ Management would sell its remaining interest. FJ Management’s current identity is therefore principally associated with Maverik, fuel distribution, and other diversified operating businesses rather than with the Pilot Flying J travel-center chain. Maverik reported more than 400 locations across thirteen states as of October 2024, positioning it as the largest independent fuel marketer in the Intermountain West. In 2025, Casey’s announced plans to acquire Maverik’s seven Michigan locations, a portfolio adjustment following Maverik’s entry into Michigan through the Kum & Go acquisition.
History
FJ Management began as Flying J Inc., founded in 1968 by O. Jay Call in Ogden, Utah. Call’s interest in aviation influenced the Flying J name. The company developed a large network of truck stops and fuel outlets serving commercial drivers in the United States and Canada. Its locations offered diesel and gasoline, maintenance, restaurants, banking, insurance, telecommunications, and other transportation-related services. Flying J also produced and refined petroleum products, creating an integrated business model combining fuel supply with retail distribution. The company’s expansion made it one of North America’s most significant diesel retailers and one of the largest privately held companies in the United States. However, its exposure to commodity prices and credit conditions became a major weakness during the financial crisis. In December 2008, Flying J sought Chapter 11 protection. The company attributed its difficulties to falling oil prices, restricted access to credit, reduced gasoline demand, and deteriorating fuel margins. Before bankruptcy, it operated approximately 220 locations and employed around 15,000 people. The restructuring resulted in the sale of the travel-center business to Pilot Travel Centers. Announced in 2009, the transaction created Pilot Flying J and allowed many locations to continue operating under the Flying J name. To address competition concerns, six Flying J sites and twenty Pilot sites were later sold to Love’s Travel Stops & Country Stores. A 2010 restructuring proposal valued the travel-plaza transaction at approximately $1.6 billion in cash and stock and was designed to repay creditors while allowing the remaining corporate businesses to continue. The reorganized company changed its name from Flying J Inc. to FJ Management Inc. in order to distinguish itself from the combined Pilot Flying J travel-center business. The reorganized group retained interests in oil and refining, banking, insurance, and related operations. It also rebuilt its consumer retail presence. In October 2012, FJ Management acquired Maverik Inc., a Utah-based convenience-store and fuel chain founded in 1928 by Reuel Call, an uncle of O. Jay Call. Maverik became the group’s main convenience-retail platform and expanded throughout the Intermountain West. FJ Management’s historical ownership of Pilot Flying J changed after Berkshire Hathaway announced a 2017 investment. Berkshire Hathaway planned to acquire 38.6 percent initially and increase that ownership to 80 percent by 2023. The Haslam family was to retain 20 percent, while FJ Management was expected to sell its remaining interest. This marked a further separation between FJ Management and the travel-center company created from its former operating network. In April 2023, FJ Management acquired Kum & Go and Solar Transport from Krause Group. Kum & Go materially increased the group’s convenience-store footprint and supported Maverik’s expansion into new states. Maverik announced a planned first Kansas location in Edgerton in 2024. By October 2024, Maverik had more than 400 locations in thirteen states and described itself as the largest independent fuel marketer in the Intermountain West. In 2025, Casey’s announced plans to acquire seven Maverik stores in Michigan, representing a localized portfolio adjustment after Maverik’s expansion into that state through the Kum & Go transaction.
- 2023
Kum & Go and Solar Transport acquisition
[1]FJ Management acquired Kum & Go and Solar Transport from Krause Group.
- 2017
Berkshire Hathaway investment in Pilot Flying J
[1]Berkshire Hathaway announced a planned investment that would ultimately reduce FJ Management’s ownership in Pilot Flying J to zero.
- 2012
Maverik acquisition
[1]FJ Management acquired Maverik Inc. and re-entered the convenience-store market.
- 2010
Corporate name changes to FJ Management
[1]Flying J Inc. renamed itself FJ Management Inc. after the travel-center business was combined with Pilot.
- 2009
Pilot agrees to acquire Flying J travel centers
[1]Pilot Travel Centers agreed to acquire Flying J’s travel-stop operations, creating Pilot Flying J.
- 2008
Chapter 11 reorganization
[1]Flying J sought bankruptcy protection amid commodity-price, credit, demand, and fuel-margin pressures.
- 2003
Death of O. Jay Call in an aviation accident
[1]O. Jay Call, Richard “Buzz” Germer, and Ilene Germer died while piloting a Cessna Citation en route to Sun Valley in March 2003.
- 1968
Flying J is founded
[1]O. Jay Call founded Flying J in Ogden, Utah, establishing the business that later became FJ Management.
Products and positioning
A privately held, family-linked operating company focused on fuel, convenience retail, transportation infrastructure, and related energy and financial services.
Convenience stores and fuel retail · 1928
Maverik
Maverik is FJ Management’s principal consumer-facing convenience-store and fuel-station brand. It sells gasoline, diesel, food, beverages, and convenience merchandise, with a network concentrated historically in the Intermountain West and expanded through the acquisition of Kum & Go. By October 2024, Maverik had more than 400 locations across thirteen states.
Convenience stores and fuel retail
Kum & Go
Kum & Go is a convenience-store and fuel-retailing chain acquired by FJ Management from Krause Group in 2023. The acquisition broadened FJ Management’s geographic presence and supplied a platform for Maverik’s expansion into additional states.
Fuel transportation and logistics
Solar Transport
Solar Transport is a fuel-transportation business acquired by FJ Management from Krause Group in 2023. It complements the group’s fuel-retailing and energy operations by adding transportation and logistics capabilities.
Truck stops and transportation services
Flying J travel centers
The former Flying J travel-center network combined commercial-fuel retailing with maintenance, restaurants, banking, insurance, telecommunications, and other services for truck drivers and fleets. The network was sold to Pilot Travel Centers during the post-bankruptcy restructuring and became part of Pilot Flying J.
Energy and petroleum
Petroleum and refining operations
FJ Management retained oil and refining activities after the travel-center sale. These operations supported the group’s historical involvement in producing, refining, and distributing petroleum products.
Brand decisions
2023
Acquire Kum & Go and Solar TransportM&ABackground
FJ Management pursued scale in convenience retail and fuel logistics.
Action taken
The company acquired Kum & Go and Solar Transport from Krause Group.
Aftermath
The acquisition significantly broadened the group’s store footprint and enabled Maverik to enter additional markets.
2012
Acquire MaverikM&ABackground
After divesting the former travel-center network, FJ Management sought to rebuild a direct presence in convenience retail and fuel marketing.
Action taken
FJ Management acquired Maverik Inc., a Utah-based convenience-store and gas-station chain.
Aftermath
Maverik became the group’s primary retail brand and expanded its position in the Intermountain West.
2010
Rename the reorganized company FJ ManagementStrategyBackground
The former Flying J travel-center business had become part of Pilot Flying J, creating potential confusion over the identity of the remaining corporation.
Action taken
Flying J Inc. changed its corporate name to FJ Management Inc.
Aftermath
The new name distinguished the reorganized diversified company from the merged Pilot Flying J travel-center operator.
2009
Sell travel-center operations to Pilot Travel CentersM&ABackground
Flying J needed a restructuring solution for its large truck-stop and fuel-retailing network.
Action taken
Pilot Travel Centers agreed to acquire the travel stops, creating Pilot Flying J while preserving the Flying J name at many sites.
Aftermath
The transaction separated the travel-center business from the reorganized FJ Management company.
Transaction value. $1.6 billion (2010 restructuring plan; value described as a combination of cash and stock)
- Love’s Travel Stops & Country Stores — Love’s acquired six Flying J locations and twenty Pilot locations as an antitrust remedy.
2008
Seek Chapter 11 protectionOtherBackground
Flying J faced falling oil prices, tighter credit markets, weaker gasoline demand, and declining fuel margins during the financial crisis.
Action taken
The company filed for Chapter 11 reorganization in December 2008.
Aftermath
The filing led to a restructuring centered on selling the travel-center network while preserving other energy, financial, and service businesses.
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