Monro Muffler to acquire two tire store chains

Newswire

July 26 (Reuters) - Monro Muffler Brake Inc. said it completed the asset acquisition of Valley Forge Tire & Auto Centers and signed a definitive asset purchase agreement with Craven Tire & Auto, expected to close by the end of July. The combined purchase price of the two tire store chains is about $16.7 million, which will be funded primarily through the company's existing line of credit, the auto chain repair operator said in a statement. (Reporting by Sharangdhar Limaye in Bangalore)

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