Monro Muffler Brake is purchasing the five-store Import Export Tire chain from the Myers family in Pennsylvania.
Terms of the transaction were not disclosed; the Pittsburgh-based acquisition posted $10 million in sales last year.
Monro will now have 12 tire stores in the market, and the addition is expected to enhance the effectiveness of the company’s Black Gold initiative – which focuses on tires and related services – at its existing 45 repair centers throughout the Three Rivers region.
“It is management’s intention to retain the store employees of the acquired business,” reports Chairman and CEO Robert G. Gross, who notes that “we look forward to increasing our presence in the Pittsburgh market and bolstering our tire distribution footprint through the addition of Import Export Tire to the Monro family.”
Import Export was founded in 1972 by the Myers family, which says existing warranties will continue to be honored. The outlets are to be re-branded as Mr. Tire Auto Service Centers.
For more information, visit www.ietires.com and www.monro.com.
