Privately owned freight carrier, Estes, has closed on lease purchases for seven former Yellow Transportation terminals across the United States.
In total, the North American company has purchased 29 terminals and ten Estes-owned terminal leases once possessed by the former trucking company, which declared bankruptcy last year. Estes has remained a debt-free following these acquisitions, it said in a statement.
Estes will be relocating six terminals into the new facilities in the following cities:
- Charlotte, North Carolina
- Milwaukee, Wisconsin
- Minneapolis, Minnesota
- Rockford, Illinois
- South Bend, Indiana
- Eugene, Oregon
The transaction adds a net-positive of 290 doors to its coast-to-coast network. The company’s new Charlotte terminal will be its largest in the country with 275 doors. Year to date, Estes has a total of 11,832 doors, up 508 doors since January 1, which is a 4.5 per cent year-over-year increase. The company plans to add an additional 940 doors over the next nine months.
“These acquisitions are yet another example of our commitment to investing in resources that add capacity, all to better serve our customers,” said President and COO, Webb Estes. “I applaud our team’s hard work and dedication for how quickly we’ve been able to deploy and take advantage of these new assets, which include hundreds of shipping containers and trailers, throughout our fleet.”
Since the start of 2024, Estes has also purchased 6,800 additional trailers, increasing its total to more than 45,000 across the country.
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