Monro completes Mr. Tire acquisition

March 2, 2004

Monro Muffler Brake Inc. has completed its acquisition of 36 Mr. Tire Inc. locations from Mile One Automotive.

Monro officials say the $29 million deal will expand its market share in the Baltimore, Md., area, where Mr. Tire is headquartered.

"The acquisition of Mr. Tire fits squarely within our previously outlined strategy of seeking cost-effective acquisitions that will strengthen our geographic footprint, increase our market share and diversify our product line," says Monro CEO and President Robert G. Gross.

"Mr. Tire has posted very strong performance and is a leader in the markets in which it operates."

The acquisition was originally announced last month.