- 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.
Wolfe Research Upgrades Bank of New York Mellon to Outperform, Announces $60 Price Target
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