Monro Inc. has completed its latest acquisition, a five-store deal in Iowa and Illinois.
On Feb. 19 Monro acquired QC Auto Service and Muscatine Tire & Auto Center stores, which are located in the Quad Cities region of Iowa and Illinois.
“We are thrilled to add QC Auto Service and Muscatine Tire & Auto Center to the Car-X brand,” said Mike Broderick, Monro president and CEO. “They have provided great service to their communities for more than 40 years, and we will continue that commitment. We welcome their associates to the Monro team and look forward to serving their guests. The acquisition strengthens our current Car-X Tire & Auto presence in the Quad Cities and the surrounding area.”
The deal includes two QC Auto Service stores in Bettendorf, Iowa, and one each in Davenport, Iowa, and Moline, Illinois, as well as Muscatine Tire & Auto Center in Muscatine, Iowa.
The five stores will be dual branded, adding Car-X Tire & Auto to their current identity. Monro will add about 30 employees to its roster with the deal.
“It wasn’t an easy decision for our family to sell our business, but it was the right time,” said Dan Elias, owner and manager. “We knew that we could trust Monro to continue serving our valued customers and our employees.”
Monro had disclosed the upcoming deal when it revealed its most recent financials, but at that time didn't reveal the specific company name. Monro says the five stores will add about $6 million in annualized sales.
The purchase increases Monro’s service locations to 1,303 company-owned stores across the U.S.
