Profile: Monro Muffler Brake Inc (MNRO.O)

Monro Muffler Brake, Inc. (Monro), incorporated in 1959, is a chain of 710 company operated stores and 14 dealer-operated stores providing automotive undercar repair and tire services in the United States. As of March 28, 2009, Monro operated company stores in New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware and Maine under the names Monro Muffler Brake & Service, Tread Quarters Discount Tire and Mr. Tire (together, the Company Stores). The Company Stores serviced approximately 3.5 million vehicles during the fiscal year ended March 28, 2009 (fiscal 2009). On January 26, 2008, the Company acquired seven retail tire and automotive repair stores located in Buffalo, New York, from the Broad Elm Group. In October 2009, the Company completed the acquisition of Tire Warehouse Central.

Monro provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment. The Company also provides other products and services, including tires and routine maintenance services, including state inspections. Monro specializes in the repair and replacement of parts, which must be periodically replaced as they wear out. The Company typically does not perform under-the-hood repair services except for oil change services, various flush and fill services and some minor tune-up services. The Company does not sell parts or accessories to the do-it-yourself market. At March 28, 2009, there were 566 stores designated as service stores and 144 as tire stores.

The Company has one wholly owned subsidiary, Monro Service Corporation. Monro Service Corporation holds all assets, rights, responsibilities and liabilities associated with the Company’s warehousing, purchasing, advertising, accounting, office services, payroll, cash management and certain other operations that are performed in New York State and Maryland.

All stores provide a range of undercar repair services for brakes, steering, mufflers and exhaust systems, drive train, suspension and wheel alignment, as well as tire replacement and service. These services apply to all makes and models of domestic and foreign cars, light trucks and vans. The typical format for a Monro repair store is a free-standing building consisting of a sales area, fully-equipped service bays and a parts/tires storage area. In BJ's locations, the Company and BJ's both operate counters in the sales area, while the Company operates the service bay area.

The Company competes with Midas, Inc. and Meineke Discount Mufflers Inc.