Court Approves Sale of Seven Additional Ex-Yellow Terminals
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The court overseeing the bankruptcy proceedings of Yellow Corp. approved the sale of a further seven terminals, according to a filing.
Judge Craig Goldblatt of the U.S. Bankruptcy Court for the District of Delaware backed a combined $14.25 million in private sales by the bankrupt less-than-truckload carrier’s administrators May 14.
The private sales, taking place outside a third auction of facilities owned or leased by the one-time No. 3-ranked LTL carrier, were announced May 5, court documents show.
However, the sale of a further three terminal leases to Saia Inc. also announced May 5 will not be approved before May 29, according to a separate May 14 filing.
Saia’s acquisition of three terminal leases for $6.5 million, announced May 5, was held up by an intervention by insurance provider Chubb Cos. Legal paperwork has since been amended deal will go before Goldblatt on May 29. (Saia LTL Freight via Facebook)
The biggest of the deals approved May 14 saw a Pontiac, Mich., terminal sold for $10 million to M Way Holding. The affiliate of Moon Star Express bought the 80-door facility about 50 miles from the Belleville, Mich.-based carrier’s headquarters.
One of the next two largest deals approved saw specialty foods distributor Baldor buy a terminal in Westbrook, Maine, for $1.55 million. Baldor, which is based in Maine, already owned four warehouses between Boston and Washington, D.C., as well as operating more than 300 trucks.
Other transactionsÌý
•ÌýBorg Enterprises (a unit of Northland Towing): $1.6 million, Fargo, N.D., terminal
•ÌýGale Group: $140,000, Hubbard, Ohio, terminal
•ÌýMidas Vantage Partners Management: $480,000, Mobile, Ala., terminal
•ÌýGoodland Partners: $25,000, Goodland, Kan., terminal
•ÌýUnited Holdings Group: $450,000, Atlanta, Ill., terminal
Saia’s acquisition of three terminals in Orlando, Fla.; Deer Park, N.Y.; and Calexico, Calif., for $6.5 million was held up by an intervention by insurance provider Chubb Cos.
Legal paperwork was amended, according to court filings, and the deal will go before Goldblatt on May 29.
The Johns Creek, Ga.-based less-than-truckload carrier has been one of the most active players in the dispersal of the ex-Yellow terminals as the company seeks to expand its footprint nationwide.
Size matters in the top-heavy LTL space as terminals are required for a successful business. However, they require a great amount of land and cost a lot of money to build, and the land is typically hard to come by near major metropolitan areas, so Yellow’s vast network is being picked apart, largely by top 20 players.
Saia ranks No. 18 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 6 on the LTL sector list.
The company posted a $49.8 million profit in the first three months of 2025, just more than half the $90.6 million profit reported in the year-ago period, due to the weak macroeconomic environment and atypical winter weather in Southern U.S. states.
But said during the company’s Q1 earnings call that the terminal acquisitions positioned Saia well for growth. The company now has 213 terminals.
Saia opened more than 20 terminals in 2024. The carrier won 17 facilities in the first auction of Yellow properties, paying a combined $235.7 million.
The carrier won the most properties on offer in the second round of the auction, agreeing to pay a combined $7.92 million for 11 properties across seven Western states.
Yellow shuttered the terminals July 30, 2023, ahead of filing for bankruptcy protection Aug. 6 that year. At the time, Yellow was operating 169 terminals and leasing 142.
Among other recent sales of terminals were deals with top 20 LTL players ABF Freight, A. Duie Pyle and TFI International.
ArcBest acquired two terminals with a total of 168 doors for a combined $11.5 million. (ArcBest via X)
ArcBest unit ABF — in an acquisition approved March 11 — paid a total of $11.5 million for two terminals in South Kent, Wash., and Aurora, Colo. The former site has 60 doors and the latter 108 doors, with respective prices of $4.5 million and $7 million.
ArcBest ranks No. 12 on the for-hire TT100 while ABF ranks No. 7 in the LTL arena.
Pyle and TFI, alongside Knight-Swift Transportation Holdings, saw deals approved Feb. 21 that bolster their respective LTL operations’ density. Court approval was sought Feb. 11.
Knight-Swift paid $9.9 million for the Downey, Santa Maria and San Diego, Calif., and Roanoke, Va., facilities; Pyle paid $4.5 million for terminals in Bowling Green, Ohio, and Charleston, W.Va.; and TFI paid $700,000 for a terminal in Fayetteville, N.C.
Knight-Swift paid $9.9 million for three terminals in California and one in Virginia. (Knight-Swift Transportation Holdings)
Knight-Swift ranks No. 7Ìýon the for-hire TT100, tops the TT truckload carrier rankings and has been growing out its LTL business since buying AAA Cooper for $1.35 billion in 2021.
Pyle ranks No. 16 and TFI is No. 8 on the TT top LTL carrier list.
In early December, Estes Express Lines and R+L Carriers affiliate Ramar Land Corp. kicked off the stand-alone deal push by purchasing 12 terminals for a combined $192.5 million.
Richmond, Va.-based Estes ranks No. 4 on the TT LTL list and No. 11 on the for-hire TT100.
R+L Carriers ranks No. 17 on the for-hire TT100 and No. 5 on the LTL list, up from No. 8 a year earlier.
Ramar also bought an ex-Yellow terminal in Jackson, Miss., in late January for $12 million.
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