FJ Management to Acquire Majority Interest in Maverik

Maverik Executive Vice President Brad Call tells CSD the leadership team and direction of the company remains unchanged.

By John Lofstock, Editor

FJ Management Inc., formerly known as Flying J, reached a deal to acquire a majority interest in North Salt Lake City, Utah-based Maverik Inc.

Maverik, which was founded nearly 60 years ago, has grown to nearly 250 stores in 10 states to become the largest independent fuel marketer in the intermountain west.

In 1928, brothers Reuel and Osborne Call formed a partnership to market fuel. The partnership lasted more than a decade until Reuel purchased Osborne’s ownership in the business. Jay Call, Osborne’s son, then founded Flying J Inc.

After 44 years of operating independently, the Osborne and Reuel Call families are once again joining forces in the oil refining, fuel distribution and convenience retailing businesses. Crystal Call Maggelet, daughter of Jay Call, and Mike and Brad Call, descendants of Val and Larry Call and grandsons of Reuel Call, will join together in a renewed family partnership.

Together, they expect this combination to deliver unique synergies in the marketplace, further the growth of Maverik stores and create many jobs throughout the intermountain west.

Brad Call, Maverik’s executive vice president, told Convenience Store Decisions that the company’s leadership structure will not change. “As far as retail operations are concerned, the current management structure and leadership team will remain intact,” he said.

The letter of intent signed by the parties anticipates finalizing documents and closing the transaction by early December this year.

Maverik’s CEO Mike Call said FJM and Maverik remain committed to its current customers, suppliers, and employees and look forward to this adventure together. “Maverik will continue to aggressively market its high energy, Adventure’s First Stop brand that has created millions of raving fans,” he said.

FJM and Maverik will operate independently with their current respective management teams.

“We are very excited to be back in the convenience store business, especially partnering with an industry leader like Maverik,” said Crystal Maggelet, CEO of FJ Management.

About FJ Management
Headquartered in Ogden, Utah, FJM is a diversified holding company with interests in:
* Petroleum refining, marketing and trading through its Big West Oil subsidiary;
* Pilot Flying J travel centers, serving the traveling public across the country;
* EFS, a transportation credit processing business; and
* TAB Bank, serving the commercial finance needs of small and medium businesses from coast to coast.

About Maverik Inc.
Maverik was founded by Reuel Call in Afton Wyoming in 1928 and has grown to nearly 250 stores in 10 states to become the largest independent fuel marketer in the intermountain west. Maverik currently employs 3,700 adventure guides with aggressive growth plans for further concentration in its current trade area as well as expansion into the Las Vegas, Denver, Spokane and other markets. As Adventure’s First Stop, Maverik lives up to its brand promise to be the first place to go to outfit adventure.

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