ABF Freight latest LTL carrier to nab Yellow terminals

Less-than-truckload carrier ABF Freight and parent ArcBest Corp. have entered private purchase agreements to acquire two leased properties totaling $11.5 million from defunct Yellow Corp.’s estate, according to a Wednesday filing in a federal bankruptcy court in Delaware.

ArcBest (NASDAQ: ARCB) is acquiring a 108-door terminal on 32.5 acres near Denver for $7 million and a 60-door service center on 12.6 acres near Seattle for $4.5 million.

The company picked up four of Yellow’s terminals valued at $38 million at two auctions at the end of 2023.

Last week, Knight-Swift (NYSE: KNX), A. Duie Pyle and TForce, the LTL division of TFI International (NYSE: TFII), entered similar agreements to acquire seven terminals totaling $15.1 million from Yellow.

Yellow (OTC: YELLQ) still has approximately 35 owned and 50 leased terminals to sell. The estate will continue to unload real estate through private sale transactions as well as at an auction scheduled for later this month.

Roughly 200 terminals totaling $2.25 billion have been sold since the liquidation began.

Proceeds from future sales will go toward settling Worker Adjustment and Retraining Notification Act claims and withdrawal liability claims from pension funds, among other creditor claims.

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