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Letter to the Editor
Tuesday August 12
Keystone Automotive Acquires Auto Parts Distributor in Quebec
Keystone Automotive Industries, Inc. has acquired MultiPro Auto Body Parts, Inc., a privately held company based in Quebec, Canada, that distributes automobile collision replacement parts. MultiPro recorded sales of approximately $13.5 million CAD ($9.7 million USD) during its most recent fiscal year. Terms of the transaction were not disclosed."The acquisition provides a solid platform for Keystone to expand throughout Canada. MultiPro has a very good business model, an excellent distribution system and a strong management team," said Charles J. Hogarty, president and chief executive officer of Keystone.
Hogarty noted that the Canadian aftermarket offers Keystone tremendous growth potential by leveraging the favorable economics of aftermarket parts compared with original equipment parts. He emphasized Keystone's Platinum Plus private label product line, its stringent quality assurance programs and increasing acceptance by the insurance industry, body shops and consumers as significant strategic factors that support the company's current and future expansion plans for the Canadian market.
Multipro's main hub/distribution center is in Drummondville, Canada, with additional distribution centers in Montreal and Quebec. The company also has depots in Ottawa, Sherbrooke and Chicoutimi.
Keystone Automotive Industries, Inc. operates 120 distribution facilities, of which 22 serve as regional hubs, located in 38 states, Canada and Tijuana, Mexico.
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