Colonel's Acquires Interest in St. Louis Distributor for Truck Accessories
28 April 1998
Colonel's Acquires Interest in St. Louis Distributor for Truck AccessoriesMILAN, Mich., April 28 -- The Colonel's International, Inc. , a manufacturer, distributor and retailer of automotive and light truck parts and accessories, disclosed today that it had entered the greater St. Louis market through the purchase of 66 percent of the stock of privately held Dealer's Choice Distribution, Inc. Terms were not disclosed. Dealer's Choice warehouses and distributes truck accessories to the wholesale and retail truck accessories market. This includes such products as bedliners, bug shields, mats, running boards, lights, caps and tonneau covers. With headquarters in Collinsville, Ill., a half hour's drive from downtown St. Louis, Dealer's Choice was a primary distributor of Duraliner products such as light truck bedliners and other light truck accessories. As a result of this transaction, the Duraliner products will be replaced by those manufactured by The Colonel's. The Colonel's manufactures, distributes and retails truck accessories through 29 facilities in 14 states to its own stores as well as other truck accessory retail outlets. According to published sources, the light truck/sports utility vehicle sector of the market today accounts for more vehicles on the road than passenger cars. The Colonel's is focused on serving the needs of this market nationwide. In a period of two years, the Colonel's has become the nation's third largest manufacturer of bedliners. Within recent months it has acquired retail/wholesale outlets in California, Pennsylvania, Illinois, Tennessee, Maryland, Virginia, West Virginia, North Carolina and Michigan. The Colonel's International, Inc. is a holding company for three wholly owned subsidiaries: The Colonel's, Inc. based in Milan, Michigan, manufactures and distributes plastic bumpers and facias to the aftermarket industry; The Colonel's Truck Accessories, Inc., based in Owosso, Michigan, manufactures bedliners, caps, tonneau covers and other truck accessory products; and Brainerd International Raceway, Inc. which owns and operates a multi-purpose motor sports facility located in Brainerd, Minnesota. This news release includes certain statements that may be considered forward looking under the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of important risks and uncertainties that could cause the contemplated transactions not to occur. SOURCE Colonel's International, Inc.