Monro Muffler Brake is buying 18 retail tire stores in North Carolina and Virginia from Colony Tire & Service Centers. This is effectively all of Colony Tire’s retail tire business. (Colony is retaining a single location in Edenton, NC, where Colony is headquartered).
In exchange for selling its retail stores, Colony is acquiring from Monro the commercial business Rochester, NY-based Monro got along with its purchase of the Kramer Tire Co. earlier this year.
The deal allows Monro to increase its tire and service shop footprint in Virginia and North Carolina, and allows Colony to focus on its commercial/wholesale tire operations.