Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
January 31, 2019 01:00 AM

Monro buying 12 stores in Louisiana; completes deals in Ohio, Florida

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

    ROCHESTER, N.Y. — Monro Inc. has struck a deal to buy 12 retail locations in Louisiana — which would be its first in that state — that collectively represent $15 million in annualized sales with a 35/65 service/tires sales mix.

    The acquisition is expected to close in the fourth quarter of fiscal 2019 and to be breakeven to diluted earnings per share in fiscal 2019. Monro did not identify the business being acquired but said it reflects the company's drive to improve its position in the Sunbelt states.

    Monro also recently completed the previously announced acquisitions of five stores in Ohio and 13 in Florida.

    In Ohio, Monro acquired Jeff Pohlman Tire & Auto Service Inc., a five-store chain located in southwest Ohio. Monro is converting the stores — in Fairfield, Hamilton (two stores), Middletown and Oxford, Ohio — to its Car-X and Mr. Tire names. The acquisition should yield about $5 million in a 70/30 service/tires sales mix.

    In Florida, the stores acquired are expected to add approximately $12 million in annualized sales, representing a sales mix of 65-percent service and 35-percent tires.

    These acquisitions fill in existing markets and are expected to be breakeven to diluted earnings per share in fiscal 2019.

    At the same time, Monro said it has decided to end negotiations for another previously announced acquisition of seven stores, representing $8 million in annualized sales, following an extended due diligence period.

    On a combined basis, acquisitions completed and announced to date in fiscal 2019 represent an expected total of $87 million in annualized sales, Monro said.

    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
    Goodyear to trim jobs amid 'uncertain' economic outlook
    2
    Hankook sponsor, supplier of new Prototype Sprint Series
    3
    Goodyear to upgrade Cooper plant in China
    4
    Midas, Big O, RNR earn high marks from Entrepreneur magazine
    5
    Titan sponsoring online mental health, fitness program
    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
    • Instagram
    • 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 © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION