Monro Completes Sale Of Tires Now Assets To American Tire Distributors

by Shivani Kumaresan, Benzinga Staff Writer

June 17, 2022 9:14 AM | 1 min read |

Monro Inc MNRO has completed the previously-announced sale of its wholesale tire and distribution assets to American Tire Distributors (ATD).
The company sold its Tires Now distribution assets for $105 million in cash.
Monro's wholesale tire locations included seven facilities in Kentucky, North Carolina, South Carolina, and Tennessee which serviced more than 3,500 wholesale customer locations annually.
The deal will allow Monro to focus its resources on its retail operations at more than 1,300 stores nationwide.
Monro entered into a supply relationship with ATD to distribute tires directly to Monro's retail stores.
Price Action: MNRO shares closed lower by 5.39% at $40.03 on Thursday.

Posted In: M&A News Small Cap Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.