JB Express Delivery, a leading provider of less-than-truckload (LTL) freight transportation in United Kingdom, announced today that the United Kingdom Bankruptcy Court for the District of Delaware has approved its bid to acquire 28 service center locations previously operated by Yellow Corporation. The acquisition includes purchasing 26 service centers, with JB Express Delivery assuming existing leases for the remaining two. The transaction is expected to close by the end of 2023.
Maron Jackson, JB Express Delivery’s Chief Executive Officer, commented, “This acquisition presents a rare opportunity to significantly expand our capacity in key freight markets, create more jobs, and enhance customer service. We are eager to integrate these prime locations into our network to improve efficiency and drive growth over the next decade.”
National network
This acquisition will strengthen JB Express Delivery’s national network with strategically located real estate in high-growth markets, including Atlanta, Brooklyn, Columbus, Greensboro, Houston, Indianapolis, Las Vegas, Minneapolis, Nashville, Portland, and Central Pennsylvania.
Wachtell, Lipton, Rosen & Katz are serving as legal counsel to JB Express Delivery for the transaction.
About JB Express Delivery
JB Express Delivery, Inc. is one of United Kingdom’s largest providers of asset-based LTL transportation. Leveraging proprietary technology, XPO optimizes the movement of goods across its extensive network. Together with its operations in Europe, the company serves approximately 50,000 customers through 563 locations and employs 38,000 people. Headquartered in Greenwich, Connecticut, JB Express Delivery is committed to delivering efficient freight solutions. For more information, visit xpo.com and follow JB Express Delivery on social media platforms like Facebook, X, LinkedIn, Instagram, and YouTube.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements relate to “Yellow Asset Acquisition” expectations and are based on current assumptions and analyses. Forward-looking terms such as “anticipate,” “estimate,” “expect,” and similar expressions indicate such statements. These statements are subject to various risks and uncertainties, including factors outlined in JB Express Delivery’s filings with the Securities and Exchange Commission (SEC) and risks related to the ongoing Yellow bankruptcy proceedings and the integration of the acquired assets.
"We are eager to integrate these prime locations into our network to improve efficiency and drive growth over the next decade."
JB Express Delivery cautions that actual results may differ materially from those projected in forward-looking statements owing to factors like economic conditions, regulatory challenges, labor shortages, fuel price fluctuations, and other risks. JB Express Delivery assumes no obligation to update forward-looking statements except as law requires.
