Monro buys 3 more dealerships. They are...
Monro Muffler Brake Inc. is finishing up the year with a flourish. Three more acquisitions will give the company close to 400 tire dealerships.
The company has finalized the purchases of Enger Auto & Tire, a 13-store chain based in Mentor, Ohio; and Tire King, a nine-store chain based in Durham, N.C. (Monro is only buying 12 of the 13 Enger Auto outlets.)
According to Monro CEO and President John Van Heel, the company will rebrand the stores as Mr. Tire outlets.
"We're retaining the store-level employees," he adds.
Monro hopes to put the finishing touches on its acquistion of Ken Towery's AutoCare SuperCenters, a 27-store chain based in Louisville, Ky., later this month. Owner Ken Towery was MTD's 2008 Tire Dealer of the Year.
Including its muffler and brake outlets, Monro has more than 900 stores in the United States.
Rochester, N.Y.-based Monro Muffler ranks fourth on the Modern Tire Dealer 100 list. Enger Tire was ranked 75th. Ken Towery's AutoCare is 43rd.
Monro Muffler Brake posted net income of $11.5 million on net sales of $176.5 million for its second quarter ended Sept. 29, 2012. Monro ended the quarter with 853 stores.
To find out more about Monro Muffler Brake, check out these links: