FJ Management, the diversified holding company located in Utah, which was formerly known as Flying J, is acquiring a majority interest in Maverik Inc., a 250-store convenience retailer. FJM and Maverik will operate independently with their current respective management teams. The letter of intent signed by the parties anticipates finalizing documents and closing the transaction by early December. FJ Management is headquartered in Ogden, Utah, and is a diversified holding company with interests in petroleum refining, marketing and trading through its Big West Oil subsidiary; Pilot Flying J travel centers, EFS, a transportation credit processing business; and TAB Bank.
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