ROCHESTER, N.Y. (Jan. 28, 2015) — Monro Muffler Brake Inc. has acquired Gold Coast Tire & Auto Centers in Palm Beach, Fla., and is rebadging the dealership's outlets with the Tire Choice & Total Car Care brand.
Monro disclosed in its third quarter earnings results that it had bought nine stores in the Fort Lauderdale/Palm Beach area in two separate transactions that represent approximately $19 million in annualized sales, but didn't disclose the identity of the dealerships acquired.
Separately a Tire Business search of tire dealer sites in those areas led to an announcement on Gold Coast's website that Monro had bought the dealership. That notice, signed by owner Josh Oretsky, assures customers that Tire Choice will honor all Gold Coast guarantees and will continue to offer Gold Coast's menu of automotive services.
Gold Coast's Facebook page shows the dealership has seven locations and has been in business for more than 30 years.
Monro did not disclose a purchase price at this time. Traditionally its acquisitions have averaged about $1 million in purchase cost for every $1 million in sales.
The company also did not provide the identity of its second acquisition.