Monro buys Strauss share.(News)

Tire Business, November, 2005

Monro Muffler Brake Inc. has acquired a 13-percent share in R&S Parts and Service Inc., a privately owned auto parts and service chain that operates 101 outlets as Strauss Discount Auto, and intends to "significantly'' expand its tire business.

The deal, for about $2 million, includes the opportunity for Monro to purchase 100 percent of the company eventually from GDJ Retail L.L.C. For a cash payment of $3 million, Monro can acquire an additional 20-percent stake in Strauss on or before March 31. If it makes that investment, the company then will have the opportunity to buy the remaining 67 percent of Strauss for $9 million cash plus $1 million of Monro stock anytime prior to April 1, 2007.

As a part of the transaction, Monro said it will provide R&S...

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