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ROCHESTER, N.Y. Monro Inc. paid $17.4 million late last year to acquire 17 Fred Allen Tire stores in California from Fred Allen Enterprises Inc., according to Monro s third-quarter 10-Q form filed with the Securities and Exchange Commission.
Monro disclosed the agreement to buy the Fred Allen stores in late October, saying at that time it expected the stores to generate $20 million in annualized sales, with a 60/40 tires/auto service mix.
The price of roughly $1 million per store is in line with many acquisitions Monro has made over the past decade.
Monro is converting the stores, in
17 communities south of Los Angeles, to the Tire Choice retail brand it s using for its stores in the western U.S.