ROCHESTER, N.Y.— Monro Inc. has acquired its second group of stores in less than three months, purchasing 12 retail and commercial stores, four wholesale distribution centers and one retread facility from Johnson City, Tenn.-based Free Service Tire.
Monro said it will continue to operate the locations and retain store-level, wholesale and retread associates. The purchase expands Monro's presence to more than 130 existing retail, commercial and wholesale locations in Tennessee, North Carolina and Virginia.
According to Monro, the acquisition adds $47 million in annualized sales to its portfolio, representing a sales mix of 15 percent service and 85 percent tires.
In early March, Monro acquired seven Appalachian Tire retail stores in Kentucky, Ohio, Virginia and West Virginia and has plans to rebrand them as Mr. Tire Auto Service Centers.
"This acquisition expands our footprint in the South, while providing Monro with an even stronger platform for further growth in these markets," said Brett Ponton, president and chief executive officer of Monro. "Equally important, we are extremely pleased to welcome these outstanding teammates and locations to our company and look forward to working with the entire Free Service Tire team."
