ROCHESTER, N.Y. — Monro Inc. spent $27.3 million in the quarter ended June 30 to acquire 16 retail stores, four wholesale distribution centers and one retread plant that are expected to generate $50 million or more in annualized sales.
The sum pertains primarily to Monro's acquisition in mid-May of Johnson City, Tenn.-based Free Service Tire Co. Inc., which comprises all the assets acquired except for four retail stores, according to information in Monro's first quarter 10-Q filing with the Securities and Exchange Commission.
The other stores acquired came in the purchase of four retail tire and automotive repair stores in Minnesota from Liberty Auto Group Inc. These stores — in suburban Minneapolis — now operate under the Car-X Tire & Auto name.
Sawyer Tire has eight stores in Missouri — in Bolivar, Greenfield, Hermitage, Lamar, Lebanon, Republic, Stockton and Willard — that Monro is converting to its Car-X Tire & Auto brand.