Allstate Corp. (ALL: Quote) said Monday that it has entered into an agreement to sell Sterling Collision Centers, Inc. to Service King Collision Repair Centers.
The deal is expected to close by the end of the second quarter of 2014 and result in a small after-tax gain, Allstate said.
Allstate bought 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 United States that offer excellent service and high-quality options for collision repair.
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by RTT Staff Writer
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