ROCHESTER, N.Y. (Oct. 12, 2004) — Monro Muffler Brake Inc. has agreed to buy Donald B. Rice Tire Co. Inc.'s five retail tire stores in the Baltimore market.
The stores have combined sales of about $6.5 million, Rochester-based Monro said. The company will provide more details about the acquisition during its second quarter conference call with investors, scheduled for 11 a.m. Oct. 14. The call will be available at www.vcall.com.
Monro operates automotive service and tire stores under the names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Mr. Tire and Tread Quarters Discount Tires. The company operates 602 stores and seven kiosks plus 16 dealer locations in several states.
Monro earlier this year bought 34 Mr. Tire outlets in Baltimore. Those stores reported $50 million in sales in 2003.
Frederick, Md.-based Rice Tire is predominantly a commercial tire dealer and retreader with seven service centers in Maryland, Virginia and Washington. Retail accounts for only 15 percent of corporate sales, according to company statistics.