Monro Paid $62.1 Million for Mountain View Tire
No Name Change in the Works
Monro Inc. paid $62.1 million for its most recent expansion in California — the 30 Mountain View Tire & Service Inc. stores it acquired in the Los Angeles area.
Monro disclosed the selling price in a filing with the SEC. And in that same filing, the company says the stores "will operate under the Mountain View Tire & Service name."
The company announced its plans to buy Mountain View Tire & Service in March and closed the deal on April 25. Monro expects the stores to add about $45 million in annual sales.
As of June 26, 2021, the Mountain View stores have contributed $7.9 million to Monro's bottom line.
Monro just closed its biggest sales quarter in company history.