1193-500x75-The-Group-Banner-Ad         1193-500x75-The-Group-Banner-Ad

   Previous Issues | Current Headlines | Point of View | Obituaries


Monro Acquiring Shops In Ohio, Southeast

Monro Inc. has signed a definitive agreement to acquire five retail locations in Ohio, filling in an existing market. These locations are expected to add approximately $5 million in annualized sales, representing a sales mix of 70 percent service and 30 percent tires. The acquisition is expected to close in the current quarter.

The company also has signed a definitive agreement to acquire 13 retail locations in the Southeast, also filling in an existing market. These locations are expected to add roughly $12 million in annualized sales, representing a sales mix of 65 percent service and 35 percent tires. This acquisition is expected to close in the first quarter of calendar year 2019.

Monro also reported that a previously announced acquisition of seven stores has been delayed because of “an extended due diligence period.” The deal is now expected to close in the first quarter of calendar year 2019. These locations represent about $8 million in annualized sales.

Going forward, Monro will continue to capitalize on consolidation opportunities in the marketplace, President and CEO Brett Ponton told analysts on the company’s Oct. 25 quarterly report conference call. “We currently have a very robust M&A pipeline with over 10 [non-disclosure agreements] signed with targets that have between five and 40 stores, which has been our traditional deal sweet spot,” Ponton said.

Back To Story List