ROCHESTER, N.Y. (May 22, 2014) — Monro Muffler Brake Inc. has struck deals to acquire 19 tire and auto service stores in Michigan from Lentz USA and Kan Rock Tire & Auto Service and plans to convert the dealerships' stores to its Monro Brake & Tire brand.
Financial terms of the pending deals were not disclosed, but Monro said the stores generated $14 million in sales last year and that it expects the acquisitions to be neutral to slightly accretive to earnings in the first year.
The stores will be Monro's first in Michigan, the 22nd state where it does business. Monro said it purchased the real estate for all the stores being acquired.
Monro also signed a deal to buy two stores in New Hampshire that will be converted to the company's Tire Warehouse brand. They generated $2 million in sales last year.