PRESS RELEASE
Monro Muffler Brake, Inc. Announces Partnering With Bridgestone/Firestone
8 April 1997
Monro Muffler Brake, Inc. Announces Partnering With Bridgestone/Firestone
ROCHESTER, N.Y., April 7 -- Monro Muffler Brake, Inc.
, one of the nation's fastest growing auto repair and service
companies, will now sell Bridgestone/Firestone tires at each of its 300-plus
stores.
The deal, announced jointly with Bridgestone/Firestone Inc., marks Monro's
return to a major brand tire and is a natural compliment to the chain's active
store expansion program.
"Our decision to carry Bridgestone/Firestone tires complements our new
strategy to align with strong national brands which will increase Monro's
awareness among customers, especially in new markets," said G. Michael Cox,
Executive Vice President of Store Operations.
Since going public in 1991, the chain of company owned and operated
stores has doubled in size and expanded far beyond its original northeast
footprint. Monro's over 300 locations provide undercar repair and maintenance
services in 14 states, as far south as the Carolinas and as far west as
Indiana. The company plans to open between 40 and 50 new stores in fiscal
1998 through a combination of acquisitions and new construction.
Monro's innovative stores offer a full range of services for cars and
light trucks, including mufflers and exhaust systems, brakes and shocks,
steering and drive train repairs, oil changes, and tire sales. Each facility
features specially trained service technicians and managers, state-of-the-art
equipment, and a computerized point of sale system that quickly processes and
tracks customer jobs, parts orders and inventory.
"Monro Muffler Brake is a very solid organization which is experiencing
rapid growth," said Bruce Bradshaw, Bridgestone/Firestone Manager of
Purchase/Resale and Government sales. "We are confident that they will do
very well with us, and we are looking forward to a long lasting, mutually
beneficial relationship with them."
Monro will carry an extensive line of Bridgestone/Firestone mass market,
touring and performance passenger tires, including the Firestone FT 70C, a
premium all season tire which provides outstanding traction. The new wet
weather tire offers a 70,000 mile limited treadwear warranty and represents
Bridgestone/Firestone's largest ever product introduction. The launch will be
supported by a major national TV and print advertising campaign in mid-April.
"We are reserving the Firestone FT 70C for independent tire dealers and
company owned stores and are very pleased that Monro will be carrying this
exciting new product," Mr. Bradshaw said.
Firestone is one of the fastest growing tire brands in America and has
gained considerable name recognition by its successful return to Indy car
racing (Firestone won the Indy 500 and the PGG Indy Care World Series
championship in 1996) and the introduction of several major product lines,
especially in the touring and performance tire categories. Nashville based
Bridgestone/Firestone Inc. is the largest subsidiary of Bridgestone
Corporation, the world's largest tire and rubber company.
Monro Muffler Brake Inc., owns and operates over 300 stores in
Connecticut, Indiana, Maryland, Massachusetts, New Hampshire, New Jersey, New
York, North Carolina, Ohio, Pennsylvania, South Carolina, Vermont, Virginia
and West Virginia.
SOURCE Monro Muffler Brake, Inc.
CONTACT: Investor Relations: June Filingeri or Melissa Garelick,
or Press: Stan Froelich, of Morgen-Walke Associates,
212-850-5600