Yellow Roadway Corporation announced Tuesday that it has completed its acquisition of USF Corporation after USF shareholders approved the transaction on Monday. The $1.5 billion purchase adds another transportation brand to the Yellow Roadway portfolio and creates an enterprise with more than $9 billion in revenue and 70,000 employees.
“The acquisition of USF further confirms our position as a leading provider of global transportation services,” said Bill Zollars, Yellow Roadway chairman, president and CEO. “By adding the USF companies to our portfolio, we have immediate and nationwide scale in the next-day and regional markets, which are among the fastest-growing transportation segments.”
The USF companies will join New Penn Motor Express to form YRC Regional Transportation, which will be headed by Jim Staley, former president of the Roadway Group. YRC Regional Transportation will be headquartered in Akron, Ohio.
Paul Liska, former executive chairman of USF, has joined Yellow Roadway’s board of directors. The other 10 members of the Yellow Roadway board remain unchanged.