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Acquisitions
9 Months Ended
Dec. 24, 2011
Business Combinations [Abstract]  
Mergers Acquisitions And Dispositions Disclosures [Text Block]

Note 2 – Acquisitions

 

       The Company's acquisitions are strategic moves in its plan to fill in and expand its presence in its existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.

 

In the third quarter of fiscal year 2012, the Company acquired eight retail tire stores located in Ohio, Pennsylvania and Maine through two acquisitions. Collectively, these stores produced approximately $11 million in net sales in calendar 2010 based on unaudited, pre-acquisition historical information. These acquisitions were financed through the Company's existing credit facility. The results of operations for these acquired stores are included in the Company's financial results from their respective acquisition dates.

 

       In the first quarter of fiscal year 2012, the Company acquired 24 retail tire and automotive repair stores located in Pennsylvania and New Jersey from Vespia Tire Centers, Inc. These stores produced approximately $36 million in net sales in calendar 2010 based on unaudited pre-acquisition historical information provided by Vespia Tire Centers, Inc. The acquisition was financed through the Company's existing credit facility. The results of operations of these acquired stores are included in the Company's financial results from June 5, 2011.

 

The purchase price allocation for the fiscal 2012 acquisitions remains preliminary due to the finalization of the valuation of intangible assets, real estate and real property leases. The Company believes that any adjustments to the purchase price allocation will not be material.