Monro Muffler Brake Inc. has acquired nine Wood & Fullerton Inc. stores in Atlanta. Monro noted in its earnings report that Georgia is a new state for the company.
The nine stores will be run under Monro’s Mr. Tire brand.
“We are proud to announce that Wood & Fullerton has sold its nine Atlanta area stores to Mr. Tire, a trusted automotive service leader for more than 50 years,” wrote Dolores Wood Rodden to customers on the dealership’s website. “Your local store is now part of the largest company-owned and operated automotive service chain in the United States – with over 1,000 locations in 25 states. The store signs will change, but not the professional staff you’ve come to know and trust.”
Monro noted in its earnings report that this acquisition and its previous acquisition of 35 The Tire Choice locations in Florida provide a solid foundation for continued store growth in these large markets.
The terms of the deal were not disclosed.
Monro also reported its first half financial results. Sales for the automotive retailer were up 6.6% year-over-year from $411,492 to $438,806, and gross profit also increased from $160,626 to $179,495 – an increase of 11.7%.
