4 March 1999: US-based Apogee Enterprises Inc. said it sold all eight of its Midas Muffler franchises to an existing Midas franchisee, but terms of the deals were not disclosed.
Apogee said the Midas…
4 March 1999: US-based Apogee Enterprises Inc. said it sold all eight of its Midas Muffler franchises to an existing Midas franchisee, but terms of the deals were not disclosed. Apogee said the Midas Muffler franchises had been part of its Auto Glass business segment. The company began acquiring Midas franchises in 1981 to help some of its Harmon AutoGlass retail businesses enter certain geographic markets. “The sale of our Midas Muffler franchises reflects our ongoing strategy to focus on our core businesses,” said Michael A. Bevilacqua, Apogee“s Treasurer and Senior Director Business Development. “We are also very pleased that the current group of Midas Muffler employees will continue with the new ownership.” Apogee declined to name the buyer.