HireQuest (HQI) said late Tuesday it has proposed to acquire certain assets of TrueBlue's (TBI) People-Ready unit for $105 million in cash.

The deal could enable TrueBlue to divest of the underperforming segment and raise cash to repay debt, diversify its business, or make a special dividend to its shareholders, HireQuest said.

HireQuest, which made multiple offers to buy TBI in 2025, said it remains interested in buying TrueBlue and especially the on-demand portion of People-Ready segment.

Shares of TrueBlue were up over 8% during the after-hours trading.