Monro - About - Our History

1957

The Beginning

Charles J. "Chuck" August opens a Midas Muffler franchise in 1957 in Rochester, New York.

1966

The Big Decision

Chuck August wants to expand his services and breaks away from the Midas corporation. He, his brother, Burton S. August, and his friend, Sheldon Lane, launch a new muffler service company named Monro Muffler. The new company is named after its home county, Monroe, but without the "e" at the end of the name. August adds brake services several years later and renames the company, Monro Muffler Brake, Inc.

1977

Monro Expands

The company begins to expand across New York State. There were 20 stores by 1977, 43 stores by 1979, and 59 stores by the mid-1980s. Annual sales hit $21 million.

1984

Outside Interests

Chuck August sells his controlling interest in Monro Muffler and Brake to a New York City-based investor group headed by Donald Glickman and Peter J. Solomon. August remains on the company's board of directors until 2002. 59 stores in operation.

1991

Going Public

Monro Muffler and Brake makes its initial public offering and begins trading stock on NASDAQ under the symbol "MNRO." 143 stores in operation.

1998

First Large Acquisition

Monro purchases 205 U.S. Speedy Muffler King locations in the U.S.

2004

Gaining Traction with Tires

Monro adds locations and tire businesses to its portfolio with the acquisitions of Mr. Tire, Tread Quarters, Kimmel Automotive, Tread Quarters Discount Tires, and Rice Tires locations. The company rebrands several locations to Mr. Tire Auto Service Centers. 602 stores in operation.

2005

Delivering Dividends

Monro declares its first cash dividend.

2006-2010

Expanding with Tires

Monro obtains 75 locations from ProCare in Ohio, Pennsylvania, and Kentucky; 26 Autotire Car Care Centers in Missouri and Illinois and four Midwest Tire & Auto Repair outlets in Indiana (the company’s first venture into the Midwest); as well as 40 Tire Warehouse Central stores and its 16 tire franchise locations across New England. 740 locations in operation.

2011-2014

Strong Acquisitions

The company expands its current footprint and enters Michigan, Florida, and Georgia with numerous small deals and larger investments. It adds several regional chains to its portfolio: Tire Barn Warehouse, Ken Towery's Tire & Auto Care, The Tire Choice & Total Car Care, and it rebrands smaller stores under those names. 1,017 locations in operation.

2015

Franchising

Monro moves into franchising when it buys the Car-X trade name and franchise rights to 146 locations in Illinois, Wisconsin, Iowa, Minnesota, and Texas, which it continues to grow through additional acquisitions and franchisees.

2016

Topping 1,000

The auto service company expands its presence with purchases in New England, North Carolina, Georgia, Florida, Michigan, and Minnesota. Monro now has 1,029 locations in operation.

FY2017

Breaking a Billion

Monro adds commercial and wholesale stores with the acquisition of Clark Tire/Tires Now and McGee Auto Service. Reported sales reach $1 billion for fiscal year 2017.

FY2018

Strategy for Sustainable Growth

Monro develops a scalable platform to drive growth.

FY2019-2020

The company moves strongly into the southern and west coast markets with store purchases in Louisiana, California, Nevada, and Idaho. The COVID pandemic begins. Monro deemed an essential business in all 32 states where it operates. 1,283 locations in operation.

FY2021

Corporate Responsibility

Monro continues to service guests – including millions of essential workers – during the height of the COVID pandemic. The company releases its inaugural Environmental, Social and Governance (ESG) report, “Monro.Forward Responsibly.“ Reported sales reach $1.23 billion.

FY2022-2023

1,300 Stores

The company operates its flagship brand, Monro Auto Service & Tire Centers, as well as several regional brands, most acquired in the past 15 years. These include Mr. Tire Auto Service Centers, Tire Barn Warehouse, Tire Choice Auto Service Centers, Tire Warehouse, Car-X, Ken Towery's Tire & Auto Care, Free Service Tire Company, Mountain View Tire & Auto Service, Allen Tire Company, and Monro Commercial Solutions, also known as McGee Commercial Tire & Services. More than 1,300 stores and franchised locations, $1.4 billion in sales.

FY2023-2024

Current Scope

Monro divests its wholesale tire distribution assets to American Tire Distributors (ATD) to focus on its core competency of delivering best-in-class automotive service. The company successfully pilots the new ConfiDrive Performance Review, a four-step systematic vehicle inspection process, in more than 100 stores.

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