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Benzinga
Benzinga
Business
Shivani Kumaresan

Monro Completes Sale Of Tires Now Assets To American Tire Distributors

Monro (Organization) Nasdaq Kentucky North Carolina South Carolina Tennessee
  • Monro Inc (NASDAQ: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.
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