AcquisitionsMay 12, 2026, 04:24 PM
HireQuest Offers $105M for TrueBlue's People-Ready Segment Assets
AI Summary
HireQuest, Inc. announced it has submitted a proposal to TrueBlue, Inc.'s Board of Directors to acquire certain assets of TrueBlue's People-Ready segment for $105 million in cash. This offer follows previous attempts by HireQuest in 2025 to acquire TrueBlue, Inc. itself. HireQuest believes this acquisition would be highly complementary to its HireQuest Direct division and could unlock significant value for TrueBlue shareholders by divesting an underperforming segment.
Key Highlights
- HireQuest offered $105 million in cash to acquire certain assets of TrueBlue's People-Ready segment.
- This follows multiple prior offers in 2025 for TrueBlue, Inc. ranging from $7.50 to $12.30 per share.
- The current proposal specifically targets the on-demand business, excluding skilled and solar/renewable energy staffing.
- HireQuest believes its franchise model is uniquely suited to unlock value in the on-demand segment.
- The all-cash proposal represents $3.45 per share of TrueBlue stock.
- TrueBlue could use the proceeds to repay debt, grow its business, or issue a special dividend.