Dive Brief:
- A. Duie Pyle spent $29.4 million in Yellow Corp.’s bankruptcy real estate auction to purchase four properties, which will support profitable growth after undergoing renovations to bring them “into Pyle condition,” CEO Pete Latta said in an emailed statement.
- The pending acquisitions in West Virginia, Pennsylvania and New York, will eventually provide the regional LTL carrier with 35 service centers across 14 states and Washington, D.C., according to the company.
- “Adding these latest facilities will create capacity to support the growth that we believe our team is capable of achieving,” Latta said.
Dive Insight:
The Chester County, Pennsylvania-based carrier, which had just one service center as of 1996, now has trucks and terminals across the Northeast U.S.
The former Yellow terminals are poised to provide the LTL carrier with added service density. The Rochester, New York, facility gives the carrier a middle point between existing locations in Tonawanda and Syracuse.
A. Duie Pyle wins four Yellow terminals
The Bridgeport, West Virginia, site acquired from Yellow will be Pyle’s second LTL service center in the state, after it opened a service center in Charleston in September.
The company expanded LTL service into West Virginia and Virginia in 2022, delivering loads from service centers in Roanoke, Richmond and Manassas, Virginia, as well as in Pittsburgh, Pennsylvania, and Hagerstown, Maryland.
In Pennsylvania, the Erie terminal extends Pyle’s service to the northwestern part of the state.
And an 85-door former New Penn cross-dock and maintenance facility near Harrisburg in Cumberland County, is centrally located near interstates 83, 81 and 76, to help the company service its truck fleet.
The necessary renovations should come at no surprise to Pyle.
Estes Express Lines, which has spent the second-most at the auction so far, estimated Yellow facilities needed $27 million in repairs prior to the auction. Carriers had time to do due diligence and visit the sites for sale, TD Cowen analysts said in an investor note.
“Some of them (mostly the legacy Yellow Freight) were in deplorable conditions,” the analysts wrote.
