Keystone Industries, Inc. today announced that it has acquired Quinte Bumper & Fender, Inc., a privately held company based in Trenton, Ontario, that distributes automobile collision replacement parts. Quinte recorded sales of approximately $8.7 million CAD ($6.5 million USD) during its most recent fiscal year. Terms of the transaction were not disclosed.
“This acquisition is a continuation of Keystone’s strategy to expand throughout Canada. Quinte has a very good business model, an excellent distribution system that complements our existing Canadian facilities and a strong management team,” said Charles J. Hogarty, president and chief executive officer of Keystone.
He noted that the Canadian aftermarket offers Keystone good growth potential by opening a large market not previously serviced by Keystone. Hogarty emphasized Keystone’s Platinum Plus private label product line, its quality assurance programs and increasing acceptance of Keystone’s products by the insurance industry, body shops and consumers as important strategic factors that support the company’s expansion plans for the Canadian market.
Quinte’s main hub/distribution center is in Trenton, Canada, with additional distribution centers in Toronto, Ottawa and Montreal.
Keystone Automotive Industries, Inc. distributes its products in the United States primarily to collision repair shops through its 126 distribution facilities, of which 22 serve as regional hubs, located in 38 states, Canada and Mexico. Its product lines consist of automotive body parts, bumpers, and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle.
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