ODFL Buys Wash. Carrier
Less-than-truckload carrier Old Dominion Freight Line said Tuesday that it signed an agreement to purchase Priority Freight Lines, a carrier in Sumner, Wash. Terms were not disclosed.
Priority Freight Lines had revenue of about $17 million last year through its network of eight owned and leased service centers located in Washington, Oregon, Idaho and Utah.
ODFL plans to operate three of these service centers located in Yakima and Pasco, Wash., and Medford, Ore., and to consolidate the remainder of the operations within its existing network of 184 service centers.
Old Dominion said it expects to complete the transaction by the end of this year. It includes the purchase of revenue equipment, accounts receivables, office equipment, information technology systems and a service center facility.
ODFL is ranked No. 24 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
