March 2, 2012 12:00 PM, EST

Celadon Sells Stake in USA Truck

Celadon Group said this week it sold its 685,000 shares, or about 6.3% stake, of USA Truck that it purchased in October.

The truckload carrier made the disclosure in a regulatory filing on Tuesday. The shares were worth about $5.6 million.

Management of USA Truck, which is also a truckload carrier, declined to meet with Celadon shortly after the share purchase.

During the fourth quarter alone, Celadon acquired assets from Frozen Food Express and YRC Worldwide’s Glen Moore truckload unit.

Earlier this week, Celadon said it bought assets from Tennessee carrier Teton Transportation.