Colorado-based Graebel Companies on Wednesday announced it had reached an agreement to sell Graebel Van Lines Inc. and the U.S. moving and storage operations of Graebel Movers Inc. to a rival’s newly created company.
Purchasing both will be Graebel Vanlines LLC, created by private owners of All My Sons Moving & Storage, Robert and Vasilia Peterson, and headquartered in Texas. They will independently own and separately operate the interstate carrier and coast-to-coast moving and storage entities from their other holdings, as Graebel Van Lines and Graebel Moving Services.
Terms of the deal have not been released, but is expected to close by the end of the year.
The deal will affect 1,800 employees and contract drivers who will report to the new company.
Graebel Relocation Services Worldwide Inc., Graebel Movers International Inc., Move Management Inc. and Graebel Commercial Services Inc. are excluded in this agreement, and will continue to operate under the umbrella of the Graebel Companies Inc., led by Chairman William Graebel.