Monro To Add 17 Locations
Oct. 29, 2021—Monro Inc. is adding 17 stores to its network through its latest round of acquisitions, including six more that continue to expand the company’s growing presence in California. The rest of the additions will be in Iowa.
Monro says the stores collectively represent $25 million in annualized sales.
In California, the six stores include three Bud’s Tire Pros locations — one in Moreno Valley and two in Riverside.
The deals are expected to close during the company’s fiscal third quarter, which runs through the end of the calendar year. And the company reinforced during its latest earnings call that it has a long runway to close more deals.
Monro says it is conducting a brand study in California and weighing how to proceed with the three retail brands it operates there: Tire Choice, Allen Tire and Mountain View Tire.
“We want to make it very consistent,” said CEO and president Mike Broderick.
As for the stores in Iowa, Monro’s Chief Financial Officer Brian D’Ambrosia said those locations will most likely be Car-X stores.