June 19, 2014
Monro buys 17 stores in Michigan
Following its fiscal 2014 financial results in May, Monro Muffler Brake Inc. CEO and President John Van Heel announced the company would enter the Michigan market in the first quarter.
On June 15, the acquisition of 17 stores in Michigan became official. Nine Lentz USA Automotive Service Centers and eight Ken Rock Tire stores are owned by Monro.
The nine Lentz USA stores are located in Battle Creek, Grand Rapids, Jenison, Kalamazoo (three), Kentwood (two) and Portage. The eight Ken Rock Tire stores are located in Bay City, Caro, Clio, Fenton, Flint (two), Lapeer and Saginaw.
Monro said all Lentz and Ken Rock Tire warranties will be honored at any Monro location
Monro recorded net income of $54.5 million on net sales of $831.4 million for its fiscal 2014 ended March 29, 2014.