POMONA, Calif., Jan. 5, 1999 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq: KEYS) today announced that it completed the acquisition of a bumper distributor and recycler located in Northern California with annual revenues of approximately $2.5 million.
Terms of the transaction were not disclosed.
Charles J. Hogarty, President and Chief Executive Officer of Keystone, said, "This acquisition fits well with our existing Northern California network. We expect to enhance the sales and profitability of this location through the introduction of the balance of our product line."
Keystone Automotive Industries, Inc. distributes its products in the United States primarily to collision repair shops through its 101 distribution centers, of which 21 serve as regional hubs. Its product lines consist of automotive body parts, bumpers, auto glass and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle. These products comprise more than 19,000 stock keeping units that are sold to more than 25,000 repair shops throughout the nation.