Monro Muffler Brake has acquired tire retailer McGee Tire Stores, adding 29 stores and one retread facility to expand the company’s footprint in Florida.
Five of the 29 locations offer a combination of retail and commercial truck service and three of the five provide off-the-road tire service. With the acquisition, Monro now operates 83 stores in the Sunshine State.
“McGee’s is predominantly retail, about two-thirds, but it includes a larger commercial component than other businesses that we have previously acquired,” said John Van Heel, Monro’s CEO during a call with investors.
“As we look ahead we plan to grow this component of McGee’s business in Florida as we believe it is complementary to our retail business, and when combined with our overall scale will lead to significant savings on material costs in that business," he added.
Monro is an automotive products retail company based in Rochester, N.Y. It offers tire sales, oil changes, brakes, shocks and struts, mufflers and wheel alignments to customers on the East Coast.
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