Monro Completes Sale Of Tires Now Assets To American Tire Distributors

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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.

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