MONRO MUFFLER BRAKE, INC. (NASDAQ:MNRO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On June28, 2017, the wholly-owned subsidiary of Monro Muffler Brake, Inc., (the “Company”), Monro Service Corporation (“MSC”), signed a three (3)year Supply Agreement with Valvoline LLC (“Valvoline”). The terms of the Supply Agreement are effective as of June1, 2017. MSC purchases and supplies the products used at the retail locations operated by the Company. Under the Supply Agreement, Valvoline will continue as the exclusive supplier of the motor oils, greases, lubricants and other related products used by the Company at its retail locations.
The Company intends to file a copy of the Supply Agreement as an Exhibit to its quarterly report filed for the period ending June24, 2017.
| Item 1.01 | Termination of Material Agreement |
Simultaneous with the execution by MSC of the Supply Agreement with Valvoline on June28, 2017, the Company and Ashland Consumer Markets, a commercial business unit of Ashhland Inc. n/k/a Valvoline agreed to terminate, effective immediately, the Supply Agreement, dated as of November9, 2012, between the Company and Valvoline (the “Prior Agreement”). The parties agreed to the early termination because the Supply Agreement between MSC and Valvoline, described above, would replace the Prior Agreement in its entirety. Neither the Company nor MSC was subject to any penalties or other assessments as a result of the termination of the Prior Agreement.
About MONRO MUFFLER BRAKE, INC. (NASDAQ:MNRO)
Monro Muffler Brake, Inc. is engaged in the provision of automotive undercar repair and tire services in the United States. The Company 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. It also offers tires and routine maintenance services, which include state inspections. It offers repair and replacement of parts. Its store provides a range of undercar repair services for brakes, steering, mufflers and exhaust systems, suspension and wheel alignment, as well as tire replacement and service. It also offers scheduled maintenance services in its stores where services are packaged and offered to consumers based upon the year, make, model and mileage of each specific vehicle. Its maintenance services include oil change services, heating and cooling system flush and fill service, belt installation, fuel system service and a transmission flush and fill service.
