x
Breaking News
More () »

ArcBest announces $100 million cash sale of FleetNet to Cox

FleetNet is a fleet maintenance and repair services provider which generated $343.1 million of ArcBest's $5.3 billion annual revenue which was reported on Feb. 3.

FORT SMITH, Ark. — ArcBest Corp. of Fort Smith (Nasdaq: ARCB) said Tuesday that it has sold its FleetNet America subsidiary to Cox Automotive Mobility Solutions Inc., a division of Cox Enterprises Inc. of Atlanta, in a $100 million cash deal.

The publicly traded logistics company said the deal closed Tuesday.

FleetNet is a fleet maintenance and repair services provider. On Feb. 3, ArcBest reported annual revenue of $5.3 billion, of which $343.1 million was generated by FleetNet.

To read more about the deal, visit our content partners at Arkansas Business here.

Follow 5NEWS on social media: Facebook | Twitter | Instagram | YouTube | TikTok

Download the 5NEWS app on your smartphone:

Stream 5NEWS 24/7 on the 5+ app: How to watch the 5+ app on your streaming device

To report a typo or grammatical error, please email KFSMDigitalTeam@tegna.com and detail which story you're referring to.

Before You Leave, Check This Out