Monro Muffler Brake to Acquire 10 Mr. Tire Retail Stores - aftermarketNews

Monro Muffler Brake to Acquire 10 Mr. Tire Retail Stores

Monro Muffler Brake said today it is buying 10 retail tire stores from Henderson Holdings, Inc., adding to the 26 Mr. Tire retail stores Monro purchased from Atlantic Automotive Corp in March 2004. While Henderson Holdings, Inc. will receive some cash as part of the transaction, the acquisition will be funded primarily using Monro common stock. The stores currently operate under the Mr. Tire brand name and were part of the original Mr. Tire chain.

ROCHESTER, NY — Monro Muffler Brake said today it is buying 10 retail tire stores from Henderson Holdings, Inc., adding to the 26 Mr. Tire retail stores Monro purchased from Atlantic Automotive Corp in March 2004. While Henderson Holdings, Inc. will receive some cash as part of the transaction, the acquisition will be funded primarily using Monro common stock.

The stores currently operate under the Mr. Tire brand name and were part of the original Mr. Tire chain. For the past six years, however, they have been operated separately by Henderson Holdings. The stores are located in the southern Maryland market and have combined annual sales of approximately $12.5 million. The stores will retain the Mr. Tire brand name and will be operated as part of Monro’s tire division.

Robert Gross, Monro president and CEO, said the new stores will not only to strengthen Monro’s geographic footprint but also to complement its existing tire stores. “Monro’s market position, purchasing power and marketing expertise can complement the stores’ existing operating strengths and help to drive sales growth and expand margins at these new locations,” said Gross.

Gross added the stores are expected to be accretive to Monro’s earnings in year one. The transaction is expected to close in March 2005, subject to customary terms and conditions. Monro plans to report results for the third quarter of fiscal 2005 on or about Tuesday, January 18.

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

GSP Announces July New Products

The company has released 162 ADVANTEDGE Loaded Struts, 26 Wheel Hub Assemblies and 4 PrePressed Wheel Hub Assemblies.

GSP-Announces-July-New-Products

GSP North America announced the release of several new products for July.

The company has introduced 162 ADVANTEDGE Loaded Struts, 26 Wheel Hub Assemblies and 4 PrePressed Wheel Hub Assemblies.

All new products are in stock and ready to ship, according to GSP.

US Motor Works: From Pumps to Powerhouse

Driven by a relentless focus on quality and operational excellence, US Motor Works has evolved into a leader in cooling and fuel systems.

US Motor Works
Standard Motor Products Adds 186 New Numbers in June

SMP said emission control is one of several engine system categories that see continued expansion.

Standard-Motor-Products-Adds-186-New-Numbers-in-June
Valvoline Releases Corporate Social Responsibility Report

The report highlights Valvoline’s fiscal year 2023 people, safety, environmental and innovation initiatives.

Valvoline-corporate-social-respon-report
HELLA PAGID Launches Semi-Metallic Brake Pad Line

The new brake pad line “delivers exceptional performance while maintaining the highest standards of safety and reliability, the company said.

Hella-Pagid-brake-pads
Other Posts
Lumileds Introduces Xperion 3000 LED Light

The Under Bonnet LED light offers up to 1,200 lumens and articulating LED lightbars to direct the beam where it’s needed.

Lumileds-Releases-Xperion-3000-Under-Bonnet-LED-Light
PRT Launches 94 New Strut Assemblies

Further expanding PRT’s portfolio, the new release covers more than 15 million U.S. vehicle applications.

PRT Launches 94 New Strut Assemblies In U.S.
Akebono Expands Disc Brake Pad Product Lines

Akebono expanded its ProACT and Severe Duty Ultra-Premium Disc Brake Pad line by 11 new part numbers.

Akebono Releases ProACT and Severe Duty Ultra-Premium Disc Brake Pad Kits
Dorman Products Releases Hundreds of New Repair Solutions

The new products add to a catalog of more than 120,000 SKUs offering millions of new sales and repair opportunities for customers throughout North America, the company said.

Dorman-Products-building-HQ