Clark Tire Bought Out by Monro Muffler

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Clark Tire, a family-owned and operated auto repair center and tire shop that has been in business in Catawba county since 1943 has been recently sold to Monro Muffler Brake Inc. (Monro). The acquisition by Monro includes 24 retail and two commercial stores, including the store at 2323 Northwest Blvd. in Newton, a retread plant, and four wholesale locations, according to Monro President and CEO John Van Heel. Current owner John D. Clark is helping with the transition, according to Van Heel, however, he could not be reached by O-N-E for comment. Monro, based out of Rochester, N.Y. currently operates 32 stores in North Carolina, predominantly under the Mr. Tire brand, according to a press release dated Aug. 19. The total includes 18 former Colony Tire locations Monro acquired in 2012. Monro currently operates approximately 1,000 company-operated car care centers, according to their web site. Currently ranked #72 on the Forbes Magazine list, in fiscal 2016, Monro reported net sales of $943,651 million and net income of $66.8 million, or $2.00 per diluted share, a 6.4% increase, according to their web site. The company also added 85 locations and extended its footprint to 26 states. Monro plans to continue to operate all of Clark’s locations, retain current store associates, and grow the business, according to Van Heel. “We are extremely pleased to welcome the outstanding team and locations of Clark Tire and Tire Now businesses to our company,” said Van Heel. “The acquisition is expected to be completed in our quarter ended September.” 

This article originally appeared on observernewsonline.com

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