NewsChannel 5.com - Nashville, Tennessee - Pilot Travel, Flying J announce truck stop merger

Pilot Travel, Flying J announce truck stop merger

Associated Press - July 14, 2009 12:55 PM ET

KNOXVILLE, Tenn. (AP) - Pilot Travel Centers LLC and Utah-based Flying J Inc. have agreed to a merger that will combine 2 of the country's largest truck stop companies.

The privately held companies announced Tuesday they have reached a preliminary agreement to combine Flying J's 270 travel centers and Pilot's more than 300 travel centers in a deal providing a "framework" for Flying J's core travel plaza business to emerge from Chapter 11 bankruptcy protection.

The companies say Pilot will provide $100 million in financing to satisfy Flying J's creditors, subject to court approval. While details are to be worked out, the combined company is expected to be headquartered at Pilot's offices in Knoxville.

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