Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • News
    • OPINION
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • Humanitarian Award
    • RETAIL TIRES
    • SERVICE ZONE
    • TIRE MAKERS
    • Best Places to Work
    • Mid-Year Report 2022
    • RUSSIA WAR IN UKRAINE
  • Aligning with ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
July 20, 2017 02:00 AM

Monro to acquire 20 more auto repair stores

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ROCHESTER, N.Y. — Monro Muffler Brake Inc. has struck a pair of deals to acquire 20 auto repair stores in the U.S. Midwest, including eight operated by a Car-X Tire & Auto franchisee.

    The stores, which are expected to generated $13 million in annualized sales, will fill in open markets in Illinois, Indiana and Michigan, Monro said. The stores' revenue mix is 95-percent auto service and 5-percent tires.

    Monro declined to disclose the identities or locations of the stores to be acquired, saying the deals are not yet finalized. Financial terms of the deals were not disclosed.

    Monro said it will continue to operate the eight Car-X Tire stores under the Car-X brand. Monro acquired the Car-X franchise business in April 2015.

    The other 12 stores will be converted to the Monro Muffler Brake brand.

    The acquisitions are expected to close in the second quarter and be breakeven to diluted earnings per share in fiscal 2018.

    Monro disclosed the acquisitions in its first quarter earnings report.

    Since acquiring the Car-X business, Monro has acquired 30 Car-X stores from franchisees, including 16 in Illinois and Iowa in February from NONA Inc. and its founder Parham Parastaran, who said the timing and buyout offer from Monro were simply right to sell the business his father founded in the 1980s

    Other Car-X transactions include:

    • One store in Indiana from NTI L.L.C. and four stores in Minnesota from Task Holdings Inc. and Autopar Inc. in July 2016;
    • Three stores in Illinois and Indiana from an unnamed Car-X franchisee during fiscal 2016; and
    • Four stores in Wisconsin from McMar Inc. in December 2015.

    This latest deal will reduce the number of independently operated Car-X stores to 105, vs. 146 in 2015. Monro will own and operate 38 locations.

    The acquisitions will push Monro's company-owned store network to nearly 1,140 locations.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Michelin to end tire production in Russia, transfer operations
    2
    Brison leaves Hankook for TireHub
    3
    Toyo North America names pair to executive positions
    4
    Updated: Tire makers react to war in Ukraine
    5
    Nokian: U.S. factory drives continued growth
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • Humanitarian Award
      • RETAIL TIRES
      • SERVICE ZONE
      • TIRE MAKERS
      • Best Places to Work
      • Mid-Year Report 2022
      • RUSSIA WAR IN UKRAINE
    • Aligning with ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
      • RUBBER NEWS EVENTS
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION