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Monro continues growth; sees record sales

Monro continues growth; sees record sales
tirebusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tirebusiness.com Daily Mail and Mail on Sunday newspapers.

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Monro sees Southwest as next growth target

Monro sees Southwest as next growth target
Monro sees Southwest as next growth target
Print
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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Our View: Tire company, dealer mergers a sign of the times?

And we thought 2020 was quite a year.
Not to take anything away from last year it was a year that won t be forgotten anytime soon, both for its heartache and heartwarming stories but this year already has proved to be quite memorable in its own right, at least in the tire and automotive service industry.
With the year barely 75 days old, there already has been enough M&A activity (mergers and acquisitions) to last a lifetime.
Prime among them, at least since the start of March, is BayPine L.P. s bid to purchase Mavis Tire Express Service Corp., a network of more than 1,100 company-owned and franchised locations spread across 27 states. The investment firm, in partnership with TSG Consumer Partners LP (TSG) and existing equity holder West First Management (WFM), a holding company controlled by Mavis co-CEOs David and Stephen Sorbaro, hope to close the deal in the second quarter. ....

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Monro reaches deal to buy Mountain View Tire

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. ....

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