POMONA, Calif., Jan. 19, 1999 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (NASDAQ: KEYS) today announced that it has completed the acquisition of Clark Supply Corporation of Waterloo, Iowa. Clark Supply is a leading distributor of paint, body and equipment supplies in the Waterloo area with historical annual revenues of approximately $1.2 million. Terms of the transaction were not disclosed.
Clark will be operated as a unit of Keystone Automotive's wholly owned subsidiary, North Star Plating.
Kim Wood, President of North Star Plating Company, Inc., said, "Geographically, the acquisition of Clark fits well with our existing network. We look forward to being able to leverage this operation with 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.