Monro buys 18 Colony Tire retail shops, sells Kramer's truck tire biz to Colony

摘要

EDENTON, N.C.-Monro Muffler Brake Inc. is buying 18 Colony Tire Inc. retail stores in North Carolina and Virginia, and in turn Colony is buying the commercial assets Monro acquired in March from Kramer Tire Co.The agreement, according to Andrew Bergeron, chief operations officer/EVP of Colony Tire, is in line with Colony Tire's plans to grow its commercial and wholesale businesses and shrink its retail business, Mr. Bergeron said. The companies are not disclosing the financial terms of the deal, he said.