Monro happy with Tire Warehouse integration
The integration of recent Monro Muffler Brake Inc. acquisitions, including Keene, N.H.-based Tire Warehouse Central Inc., is proceeding as planned, according to Monro Chairman and CEO Rob Gross.
Earlier this month, Monro finalized its acquisition of 46 Tire Warehouse Central stores throughout five New England states. The $34 million deal also included real estate assets for 12 locations, plus a distribution center in New Hampshire.
In addition, Monro recently purchased Midwest Tire & Auto Repair, a four-store independent chain in Indiana, for $2 million. In total, Monro now has 204 locations, making it the fourth largest independent tire store chain in the U.S., according to the 2009 Modern Tire Dealer 100.
Gross says Monro is "well-positioned to take advantage of additional acquisition opportunities as they arise. As we look to the second half of our fiscal year, we remain optimistic about our prospects given the favorable trends that we are currently experiencing in both our business and in the industry."