Monro Muffler Brake Inc. has signed a definitive agreement with Hennelly Tire & Auto Inc.to acquire 35 The Tire Choice & Total Car Care stores in Florida, a new state for Monro.
The stores are located in major west coast and east coast Florida markets, which allows Monro to enter the state "with a premier chain and a solid foundation for continued store growth," according to the company.
The transaction is expected to close in mid-August 2014.
Dan and Diane Hennelly, owners of Hennelly Tire, are winners of Modern Tire Dealer's 2013 Tire Dealer of the Year award. Dan is chairman and CEO of the company; Diane is vice chairman and chief financial officer.
"We always wanted to grow the business to 100 stores," says Dan. "Monro's got the infrastructure and strength to do it."
Dan will stay on as a consultant for at least the next three years. Working with Monro CEO and President John Van Heel, he will try to develop new Tire Choice outlets in Florida.