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Monro sees Southwest as next growth target
Monro sees Southwest as next growth target
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ROCHESTER, N.Y. Monro Inc. has identified the U.S. Southwest as a high priority for growth, both in terms of acquisitions and greenfield stores, company executives told financial analysts during the firm s fiscal 2021 results conference call May 20. Recently hired top executive Mike Broderick told analysts while Monro has had success in building its presence in the West California, Idaho and Nevada Monro is missing a lot of space out in the Southwest. We don t have many stores [there], but where we have opportunities to fill in, we will.
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Monro, Inc. Signs a Definitive Agreement to Acquire Mountain View Tire & Service, Inc.
Monro, Inc.March 10, 2021 GMT
~ Acquisition of 30 California-based Stores, Adding $45 Million in Expected Annualized Sales ~
~ Expands Presence in Attractive Western Region with a Total of 116 Stores ~
ROCHESTER, N.Y., March 10, 2021 (GLOBE NEWSWIRE) Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that it has signed a definitive agreement to acquire California-based Mountain View Tire & Service, Inc.
The acquisition includes 30 Mountain View Tire & Auto Service retail stores located in the Los Angeles area, further solidifying the Company’s geographic footprint in California. Monro will continue to operate all of these locations.
Monro reaches deal to buy Mountain View Tire
Mountain View Tre and Auto Service shop in Eagle Rock, Calif.
ROCHESTER, N.Y. Monro Inc. is continuing its quest to grow in the West, striking a deal to buy Rancho Cucamonga, Calif.-based Mountain View Tire & Auto Service Inc., which includes 30 retail stores in the Los Angeles area.
The deal, which is expected to close during Monro s fiscal 2022 first quarter, will boost Monro s growing footprint to 76 stores in California and nearly 1,300 nationwide. Monro is considered the largest independent tire retailer in the U.S., according to
Tire Business calculations.
Financial terms are not being disclosed. Mountain View Tire represents $45 million in annualized sales, Monro said, in a 70/30 auto service/tires revenue mix.