Estes, R+L Carriers Affiliate Buy More Ex-Yellow Terminals

Estes Express Lines and Ramar Land Corp., an affiliate of R+L Carriers, have agreed to purchase eight terminal properties and four leased sites from the bankrupt Yellow Corp. for a total of $192.5 million. Estes will acquire seven owned properties for $142.5 million, while Ramar is set to pay $50 million for one large terminal in Maybrook, New York. The properties include major terminals across various states, significantly expanding Estes' logistics capacity. The transactions were part of ongoing auctions of Yellow’s real estate, which began earlier, and have raised substantial funds from previous sales. Before its downfall, Yellow Corp. was a significant competitor in the less-than-truckload (LTL) sector, ranked highly among North America's for-hire carriers. The acquisition of these terminals has allowed Estes to rise in the LTL rankings to the fourth position for 2024 and the 11th position overall among for-hire carriers. The sale process has garnered significant attention as the transportation industry continues to consolidate after Yellow’s exit. Future auctions of remaining Yellow properties are scheduled to take place, reflecting the ongoing restructuring dynamics in the sector. In transportation, strategic acquisitions like this can enhance service area coverage and operational efficiency. Estes' expansion underscores the importance of real estate and terminal positions in optimizing logistics and supply chain solutions. As companies navigate a competitive landscape, securing valuable assets is crucial to ensure a firm foothold in the market. Furthermore, these acquisitions also indicate potential shifts in industry dynamics, as remaining players reorganize post-Yellow, which may present new opportunities for growth and collaboration in logistics.