Allstate Acquires Sterling Collision Centers

May 15, 2001

The Allstate Corporation recently announced it has acquired Sterling Collision Centers Inc., which operates a network of 39 auto collision repair stores in seven states and nine metropolitan locations.

According to George Ruebenson, Allstate vice president for claims and new chairman of the Sterling board of directors, the acquisition forms a part of the insurer’s effort to both “create a differentiated customer experience” and to increase “efficiencies and delivery of value” to policyholders.

Sterling CEO Jonathan McNeill noted that the two companies share a vision with regard to expanding into other markets and are committed to cusomter staisfaction.

According to Ruebenson, the Sterling brand and their leadership team will remain in place and no changes are planned.

In the near term, the operation of the Sterling stores will change very little. They will continue to serve their current customer base. Longer term, as new Sterling stores are created, they will be designed to maximize the service benefits to Allstate customers.

Sterling will operate as a separate subsidiary of Allstate Non-insurance Holdings, Inc. and will not be owned by the Allstate Insurance Company. The financial terms of the agreement were not disclosed.

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