Allstate To Sell Sterling Collision Centers

Proquest LLC

Allstate Corp. announced it has entered into an agreement to sell Sterling Collision Centers, Inc. to Service King Collision Repair Centers.

In a release on April 14, Allstate said the transaction is expected to close by the end of the second quarter of 2014 and result in a small after-tax gain.

"This sale reflects a continued focus on investing capital where we have a competitive advantage in providing unique offerings to the four consumer insurance segments," said Thomas J. Wilson, chairman, president and chief executive officer of The Allstate Corp. "Our ownership of Sterling has deepened the company's understanding of the collision-repair business and helped us build industry relationships. The transition for our customers and Allstate agencies will be seamless."

Allstate purchased Sterling Collision Centers in 2001. Sterling operates 62 collision-repair facilities in 16 states and has 1,200 employees.

Service King has been repairing Allstate customers' vehicles for more than 30 years and is part of Allstate's Good Hands Repair Network of more than 3,200 prequalified repair shops across the country that offer service and options for collision repair.

The Allstate Corp. is a publicly-held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com, www.allstate.com/financial and 1-800 Allstate.