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Monro acquiring Tire Barn Warehouse 31-store chain

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ANDERSON, Ind.—The owners of Tire Barn Warehouse, an Anderson-based tire retail chain with 31 locations throughout Indiana, Illinois and Tennessee, have agreed to sell the majority of the company's assets to Monro Muffler Brake Inc.

Financial terms of the deal, expected to close Nov. 19, were not disclosed. Tire Barn Warehouse did not elaborate on what, if any, assets would remain after the sale closes.

Monro had indicated in its recent quarterly financial results that it had a major deal in the works.

At that time, it told financial analysts the chain had executed buy-out agreements covering “multiple” stores representing at least $60 million in annual sales. Tire Barn's annual sales are in the $70 million-plus range, according to company information.

Monro is expected to continue using the Tire Barn Warehouse name, said Christopher Jones, president and CEO of Everybody's Oil Corp. and grandson of the dealerships founders, J. Everette Jones and Iva Tate-Jones. He added there will be “no change in basic store operations and very little change in store personnel.”

Tire Barn Warehouse is the d.b.a. for Everybody's Oil Corp., the family company founded in the early 1920s as a petroleum distribution business. It was incorporated as Everybody's Oil in January 1930, according to the firm's biography.

In the following years, Everybody's Oil was the first enterprise in Indiana to open convenience stores as well as the first to open retail tire stores that sell only new tires and tire installation service.

Everybody's Oil divested its retail gasoline/convenience store business—comprising 14 Red Barn outlets—in 2007 to concentrate on the growing tire business.

Christopher Jones, who joined the company in 1977, thanked the 300-plus employees of Tire Barn Warehouse in a prepared statement for their dedication and loyalty over the years.

“The continued support of our employees and customers is what has kept us going the past 83 years, and I'm grateful to each one of them,” he said.

The acquisition will give Monro an immediate boost in Indiana, where it has eight Monro and four Mr. Tire stores, and in Illinois, where it has just four Autotire stores in the greater St. Louis metro area. The stores in Tennessee—originally Quick Tire outlets bought by Everybody's Oil in 2000—would be Monro's first in that state.

The addition of the 31 Tire Barn locations will push Monro close to 900 stores overall, including nearly 300 tire-focused stores. Tire Barn Warehouse will become Monro's fifth tire retail brand name, joining Mr. Tire, Autotire, Tire Warehouse and Treadquarters.
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