Monro Inc. (Rochester, NY) has acquired the Free Service Tire Co., which has 12 retail and commercial locations in Tennessee; four wholesale centers in Tennessee, Virginia and North Carolina; and one retread facility. Monro plans to continue to operate all Free Service Tire locations as well as retain their store-level, wholesale and retread associates.
Financial terms of the deal were not disclosed. However, Monro has stated that the addition of Johnson City, TN-based Free Service Tire is expected to add roughly $47 million in annualized sales, representing a sales mix of 15 percent service and 85 percent tires.
“This acquisition expands our footprint in the South, while providing Monro with an even stronger platform for further growth in these markets,” said Monro president and CEO Brett Ponton.
The transaction closed May 13.