Broderick said the deal demonstrates Monro's"commitment to delivering best-in-class service, identifying value-enhancing opportunities and driving shareholder value."
Monro generated approximately $1.4 billion in sales in fiscal 2022. It operates more than 1,300 stores and 9,000 service bays in the U.S.
ATD currently operates more than 130 distribution centers, including 24 distribution centers in Canada, serving approximately 80,000 customers across the U.S. and Canada. It said he employees 5,000 associates across its distribution center network, including approximately 600 in Canada.
It is unclear what redundancies exist with personnel and distribution centers.
An ATD spokesperson said the company is “working closely with Tires Now and Monro to develop a detailed plan on how we will bring our distribution networks and our teams together following the completion of the transaction.”
Broderick lauded the work from the Tires Now team, calling the impact of the transaction on its 200-plus employees "an important consideration in the decision to enter this transaction. They have an exciting opportunity to transition with the Tires Now locations and grow their future as part of ATD, an organization that shares our strong dedication to culture and ESG."
Schuette said ATD has "great admiration for the teammates of Tires Now, and we could not be more excited about growing the ATD family. Together, we will serve even more retail locations with even more logistics services and we will continue to lead the pace of change in our industry."
Tires Now distributes around 20 tire brands, including Michelin, Hankook, Falken, Yokohama, Kuhmo, Pirelli, BKT and Cooper.
Earlier this month, Goodyear announced it had begun to distribute Cooper- and Starfire-brand tires to its company-owned retail and commercial outlets through TireHub L.L.C., Goodyear's joint venture with Bridgestone Americas.