ROCHESTER, N.Y.–(BUSINESS WIRE)–Monro, Inc. (Nasdaq: MNRO), one of the largest independent auto service and tire dealers in the United States, has completed the previously-announced sale of its wholesale tire and distribution assets to American Tire Distributors. Monro’s wholesale tire locations, operating as Tires Now, included seven facilities in Kentucky, North Carolina, South Carolina, and Tennessee which serviced more than 3,500 wholesale customer locations annually.
ATD is one of the largest independent suppliers of tires to the replacement tire market in North America, with more than 130 distribution centers in the United States and Canada.
The deal will allow Monro to focus its resources on its retail operations at more than 1,300 stores nationwide. As part of the transaction, Monro entered into a supply relationship with ATD for ATD to distribute tires directly to Monro’s retail stores.
“We are excited to have ATD support all of our retail locations through its industry-leading distribution program,” said Mike Broderick, president and chief executive officer of Monro. “This is a game changer for our locations. We will now have access to a broader range of tire brands and sizes due to ATD’s extensive secondary supplier partnerships. ATD’s daily delivery of tires to our stores will allow us to provide outstanding guest service to our customers with the right tire at the right price.”
“Our Tires Now teammates have been a big part of our success,” he continued. “We thank them for their dedication to our customers, and we wish them all the best in the future.”
The sale of Monro’s tire distribution assets is also expected to be a significant step forward in Monro’s environmental, social, and governance (ESG) efforts. As Monro’s distribution fleet transitions to ATD, Monro anticipates a meaningful reduction in energy consumption, operational efficiencies, and vehicle emissions.
About Monro, Inc.
Monro, Inc. (NASDAQ: MNRO) is one of the nation’s leading automotive service and tire providers, delivering best-in-class auto care to communities across the country. With a growing market share and a focus on sustainable growth, the company generated approximately $1.4 billion in sales in fiscal 2022. It continues to expand its national presence through strategic acquisitions and by opening newly constructed stores. Across more than 1,300 stores and 9,000 service bays nationwide, Monro offers customers the professionalism and high-quality service they expect from a national retailer, with the convenience and trust of a neighborhood garage. Monro’s highly trained teammates and certified technicians bring together hands-on experience and state-of-the-art technology to diagnose and address customers’ automotive needs to get them safely back on the road. For more information, visit www.monro.com.
