Monro buying 16 Car-X stores in Ill., Iowa

ROCHESTER, N.Y. (Feb. 1, 2017) — Monro Muffler Brake Inc. is buying 16 Car-X Tire & Auto stores in Illinois and Iowa from the stores' franchisee, NONA Inc., and plans to keep operating them under the Car-X brand.

The stores generate about $15 million in annualized sales, Monro said, with a 75/25 service/tires mix.

The acquisition is expected to close in March 2017. Financial terms were not disclosed.

Monro disclosed the deal in its third quarter earnings results.

Monro operates just six stores in Illinois and none in Iowa, prior to this deal.

Champaign, Ill.-based NONA is owned by Parham Parastaran, who started in the automotive repair/maintenance business in 1992.

He initially worked with his father, an engineer and Iranian emigree who had opened a Car-X store in Champaign in the late 1980s.

The elder Mr. Parastaran continued to work in the business until 2000.

NONA Inc. is among the 70 largest independent tire retailers in the U.S., according to Tire Business' 2016 Top 100 dealerships ranking.

Monro bought the Car-X Tire & Auto retail auto service brand in May 2015 from Tuffy Associates Corp. and continues to operate the business as a franchise.

The brand comprises 146 franchised locations in 10 states.