Monro Buys Seven Appalachian Tire Retail Stores in Four States
March 9, 2018—Monro Inc. has acquired seven Appalachian Tire retail stores in Kentucky, Ohio, Virginia and West Virginia and plans to rebrand them as Mr. Tire Auto Service Centers, Tire Business reports.
Monro has been on a bit of an acquisition spree over the past year. In early February, added three retail stores, meaning it had bought 35 tire stores over the previous 10 months.
Financial terms of the Appalachian deal were not disclosed. Monro earlier had announced an acquisition of this size but declined to identify the stores being bought.
It did say at that time, however, it expected the stores to add roughly $7 million in annualized sales, split 45/55 auto service/tires.
The stores, operated by Charleston, W.Va.-based Appalachian Tire Products, are located in Athens, Ohio; Prestonsburg, Ky.; Roanoke, Va.; and Beckley, Charleston, Hurricane and Lewisburg, W.Va.