TrueBlue, a leading provider of specialized workforce solutions, today announced that its Board of Directors (the "Board") has unanimously rejected the unsolicited, non-binding proposal from HireQuest, Inc. to acquire the On-Demand segment of TrueBlue's PeopleReady business for $105 million in cash. As previously disclosed last year, the Board considered, and rejected, an unsolicited, non-binding proposal from HireQuest to acquire all of TrueBlue's outstanding shares.
TrueBlue Board unanimously rejected HireQuest's $105M unsolicited proposal for On-Demand business.
Proposal materially undervalues a core strategic asset experiencing increased demand and strong momentum.
On-Demand seeing improved territory performance, stronger weekly trends, and growth in local account activity.
TrueBlue entering fourth consecutive quarter of growth.
Barclays serving as financial advisor; Sidley Austin LLP as legal counsel.
TrueBlue has connected more than 10 million people with work and served over 3 million clients.
HireQuest's latest proposal to acquire the On-Demand segment of the PeopleReady business, which was received on May 12, 2026, materially undervalues a core strategic asset of TrueBlue that is experiencing increased demand and strong momentum, despite challenging market conditions. Notably, On-Demand is seeing improved territory performance, stronger weekly trends and growth in local account activity.
The Board is confident that the Company's plan to enhance the sales function, expand share in attractive end markets, and unlock efficiencies with technology and operational excellence will enable TrueBlue to realize long-term sustainable value in excess of what HireQuest has proposed. The Company is entering its fourth consecutive quarter of growth, and the Board and management team see significant potential ahead.
TrueBlue will continue to take actions that are in the best interests of all its shareholders. The Company does not intend to comment further on this matter unless it determines that additional disclosure is appropriate or required.
Shareholders do not need to take action at this time.
About TrueBlue
TrueBlue is a leading provider of specialized workforce solutions. As The People Company, we put people first–advancing our mission to connect people and work while delivering smart, scalable solutions that help businesses grow and communities thrive. Since our founding, TrueBlue has connected more than 10 million people with work and served over 3 million clients across a variety of industries. Powered by proprietary, digitally enabled platforms and decades of expertise, our brands–PeopleReady, PeopleScout, Staff Management | SMX, Centerline, SIMOS, and Healthcare Staffing Professionals–provide a full spectrum of flexible staffing, workforce management, and recruitment solutions that bring precision, speed and scale to the changing world of work.
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