Alan D. Feldman, Midas' chairman and chief executive officer, said the acquisition of SpeeDee was accretive to Midas results in the second quarter, as SpeeDee provided $0.6 million of operating contribution and the interest cost on the related debt was only $0.2 million.
The company has begun the initial co-branding effort of adding Midas signage and services to three SpeeDee shops in central California. Shops in Hollister, Gilroy and Watsonville have added equipment and inventories in order to be able to offer the full breadth of Midas services. Midas exterior signage and interior point-of-purchase displays are also being added to showcase the new co-branded format.
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Highlights from the Prune Bowl now available
