SALT LAKE CITY — FJ Management Inc., formerly known as Flying J, announced Thursday that the company would acquire a majority interest in Maverik, Inc.
Odgen-based FJM and Maverik will operate independently with their current respective management teams.
FJM is a privately held U.S. corporation that operates oil and refining divisions, as well as banking and insurance businesses. Along with Pilot Corp. and CVC Capital Partners, FJM is a joint-owner of Pilot Flying J, the largest truck stop chain in the nation.
"We are very excited to be back in the convenience store business, especially partnering with an industry leader like Maverik," said FJM chief executive officer Crystal Maggelet. "FJM and Maverik remain committed to all our current customers, suppliers and employees and look forward to this adventure together."
Founded in 1928 by Reuel Call in Afton, Wyo., Maverik employs 3,700 workers and operates to nearly 250 stores in 10 states, making the company the largest independent fuel marketer in the Intermountain West.
A letter of intent signed by both parties indicated that the deal will be completed by early December. Financial details of the agreement were not released.
- Lawsuit accuses state of illegally pursuing...
- Chinatown Supermarket opens in South Salt Lake
- 9 startup companies perfect for your family
- U.S. economy grows at scorching 4 percent in...
- The wrath of Comic-Con: S.L. convention...
- BYU grad strikes gold teaching via online...
- Dave Ramsey says: Don't touch that 529 plan
- Consumer index climbs to record level in Utah
- Fast food workers vow civil disobedience 20
- Dave Ramsey says: Don't leave an estate... 13
- U.S. economy grows at scorching 4... 12
- San Diego Comic-Con tells Salt Lake... 12
- BYU grad strikes gold teaching via... 12
- Sarah Palin launches online... 10
- Dave Ramsey says: Don't touch that 529... 8
- The wrath of Comic-Con: S.L. convention... 8