Pilot Flying J Acquires Maxum Petroleum

KNOXVILLE, Tenn. -- Pilot Flying J acquired a controlling interest in Maxum Petroleum for an undisclosed sum of cash.

According to Greenwich, Conn.-based Maxum, it is one of the largest independent energy logistics companies in North America, selling and distributing more than 1.3 billion gallons of refined petroleum services and serving more than 15,000 customers. Maxum also offers fuel, lubricants and a wide array of logistics and energy management services.

"The acquisition of Maxum offers an excellent growth opportunity, and we are very excited to increase our participation in this industry," said Jimmy Haslam, Pilot Flying J's president and CEO. "Maxum's management team and talented workforce have demonstrated commitment and leadership in executing their business plan and delivering value to their customers and suppliers."

Maxum will continue to operate as an independent standalone business under the leadership of CEO Perot Bissell.

"Pilot Flying J's investment in our business is a strong validation of the strategy and vision we have been pursuing since 2004," Bissell said. "We will continue to provide our customers with high-quality and reliable delivery, with a strong focus on value-added services and solving our customers' unique logistics requirements."

Pilot Flying J has more than 600 retail locations throughout the United States and employs approximately 21,000 people.