Monro Inc. has acquired 99-year-old Free Service Tire Co., adding an expected $47 million in annual sales to its balance sheet.
The ownership of Wheel Pros Holdings LLC has changed from one private equity group to another. The 23-year-old designer, marketer and distributor of aftermarket wheels serves more than 10,000 retailers across the globe.
Months of speculation about potential buyers of Kumho Tire Co. Inc. are over. The new owner will be Qingdao Doublestar Tire Industrial Co. Ltd.
Michelin Group is upping its investment in the mining sector with the acquisition of Fenner plc, a maker of conveyor belts and reinforced polymer products for the mining industry.
Monro Inc. has expanded its presence in the Appalachian region with the purchase of seven retail stores from Appalachian Tire Products Inc.
K&M Tire Inc. is expanding its headquarters in Delphos, Ohio, adding 7,000 square feet to build offices for 10 sales and accounting staff the tire distributor expects to hire in the next two years.
Icahn Automotive Group LLC has purchased four independently-owned service center locations in the Detroit area. All will be converted into Pep Boys Service and Tire Centers.
The strategy at Monro Inc. is to keep the foot on the gas when it comes to acquisitions. And that's evident already in 2018, with the purchase of three retail stores from Valley Tire Co. Inc. in Pennsylvania, plus an agreement to complete another deal with seven stores before the end of March.
Net sales dropped 0.9% and net income fell 34% at Monro Inc. for the three-month period ending Dec. 23, 2017. Lower same-store sales were to blame for the decreases.
Kauffman Tire Inc. is selling its 69 retail stores in Georgia and Florida to Mavis Tire Supply Corp.
Icahn Automotive Group LLC ended 2017 with the acquisitions of eight more independent auto service businesses, including tire dealers.
Carl Icahn's automotive business has acquired a 10-store tire dealership in the state of Washington. The stores will be rebranded under the Pep Boys — Manny, Moe & Jack brand.
Michelin North America Inc. has sold four Tire Centers LLC (TCi) stores and a TCi retread plant to two independent commercial tire dealers.