Old Dominion Freight Line to buy Priority’s assets
Old Dominion Freight Line Inc., a less-than-truckload national carrier based in Thomasville, N.C., said today it would purchase selected assets of Priority Freight Lines for an undisclosed amount.
Sumner, Wash.-based Priority posted revenue of $17 million in 2006. The transaction includes the purchase of accounts receivables, all revenue equipment, office equipment, information systems and three owned service centers in Yakima and Pasco, Wash.; and Medford, Ore.
Old Dominion will combine Priority’s eight terminal operations and entire route structure with its own network of 184 service centers, effective April 27.
“With this acquisition, we will increase our 100 percent full-state coverage offering to 38 states with the addition of the state of Washington, and we will enhance our direct coverage in the state of Oregon,” said Earl E. Congdon, chairman and chief executive officer of Old Dominion Freight Line.