Apogee Enterprises, Inc. Announces the Sale of Midas Muffler Franchises
Apogee Enterprises, Inc. Announces the Sale of Midas Muffler Franchises
Apogee Enterprises, Inc. announced today that it sold all eight of its Midas Muffler franchises.
The sale reflects Apogee's continuing focus on its core businesses MINNEAPOLIS, Feb. 24 /PRNewswire/ -- Apogee Enterprises, Inc. (Nasdaq: APOG) announced today that it sold all eight of its Midas Muffler franchises, which were previously included as part of its Auto Glass business segment. Terms were not disclosed. Apogee began acquiring Midas Muffler franchises in 1981, as part of a strategy to help some of its Harmon AutoGlass retail businesses gain successful entry into certain geographic markets. Today, Apogee has more than 400 retail and wholesale auto glass locations nationwide.
"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 Enterprises, Inc. is a world leader in technologies involving the design and development of value-added glass products, services and systems. The company is organized into three operating segments: Glass Technologies (GT), Auto Glass (AG), and Building Products & Services (BPS). Headquartered in Minneapolis, the company's stock is traded on the Nasdaq Stock Market under the symbol APOG.
SOURCE Apogee Enterprises, Inc.
"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 Enterprises, Inc. is a world leader in technologies involving the design and development of value-added glass products, services and systems. The company is organized into three operating segments: Glass Technologies (GT), Auto Glass (AG), and Building Products & Services (BPS). Headquartered in Minneapolis, the company's stock is traded on the Nasdaq Stock Market under the symbol APOG.
SOURCE Apogee Enterprises, Inc.