Yellow Terminal Sale Attracts Knight-Swift, A. Duie Pyle, and TForce
Delaware, February 14, 2023 - According to court filings, Knight-Swift Transportation, A. Duie Pyle, and TForce Properties have finalized purchase agreements to acquire several terminals previously owned by Yellow Corp.
Knight-Swift Acquires Majority of Terminals
Phoenix-based Knight-Swift (NYSE: KNX) will acquire four terminals for $9.9 million. These include three terminals in Southern California (Downey, San Diego, Santa Maria) and one in Roanoke, Virginia. Knight-Swift has previously acquired 29 terminals from Yellow since 2023 for a total of $63.9 million.
A. Duie Pyle and TForce Secure Additional Terminals
A. Duie Pyle has purchased two terminals for $4.5 million. This acquisition includes an owned terminal in Bowling Green, Ohio, and a leased property in Charleston, West Virginia.
TForce, the LTL division of TFI International (NYSE: TFII), has acquired a single owned terminal in Fayetteville, North Carolina, for $700,000. TFI is aiming to expand its LTL presence with plans for a major acquisition in the US market this year.
Yellow's Remaining Terminals Up for Auction
Despite the latest sale, Yellow Corp. still holds approximately 35 owned and 50 leased terminals. The remaining locations are expected to go up for auction later this month.