Midas Franchise News

PALM BEACH GARDENS, Fla. & ITASCA, Ill.--(BUSINESS WIRE)--Apr. 30, 2012-- TBC Corporation (“TBC”), one of the largest marketers of replacement tires in the United States, today announced that it has completed the acquisition of Midas, Inc. through one of its wholly owned subsidiaries, with Midas being the surviving corporation. The short form merger was the final step of the acquisition process and follows TBC’s acceptance of and payment for all of the shares validly tendered and not withdrawn pursuant to its tender offer. The tender offer expired on April 24, 2012 with approximately 68.8 percent of Midas’ outstanding shares having been tendered. The transaction is valued at approximately $310 million, including the assumption of approximately $137 million in debt and pension liabilities...

PALM BEACH GARDENS, Fla. & ITASCA, Ill., Apr 25, 2012 (BUSINESS WIRE) --TBC Corporation ("TBC") today announced that it has accepted for payment all of the shares of Midas, Inc. common stock tendered pursuant to TBC's tender offer for all of the outstanding shares of common stock of Midas, Inc. (NYSE: MDS) ("Midas") at a purchase price of $11.50 per share. As of the expiration of the offer, 9,923,605 shares of common stock of Midas were validly tendered and were not withdrawn (including 326,192 shares tendered pursuant to guaranteed delivery procedures). Such shares represent 68.8 percent of the 14,433,908 shares of Midas stock outstanding as of April 24, 2012. All of such shares have been accepted for payment in accordance with the terms of the tender offer...

PALM BEACH GARDENS, Fla. & ITASCA, Ill.--(BUSINESS WIRE)--Mar. 28, 2012-- TBC Corporation and Midas, Inc. (NYSE: MDS) today announced that TBC Corporation has commenced the previously announced tender offer for all of the outstanding shares of common stock of Midas at a price of $11.50 per share, net to the seller in cash without interest. The tender offer is being conducted by TBC through its wholly owned subsidiary Gearshift Merger Corp.
On March 13, 2012, TBC and Midas announced that they had entered into a definitive merger agreement pursuant to which the tender offer would be made. Pursuant to the merger agreement, after completion of the tender offer and the satisfaction or waiver of certain conditions, Midas will merge with Gearshift Merger Corp...

PALM BEACH GARDENS, Fla. & ITASCA, Ill.--(BUSINESS WIRE)--Mar. 13, 2012-- TBC Corporation and Midas, Inc. (NYSE: MDS) today announced that they have entered into a definitive merger agreement, pursuant to which TBC will acquire Midas through a cash tender offer at $11.50 per share. The all-cash transaction is valued at approximately $310 million, including the assumption of approximately $137 million in debt and pension liabilities. The $11.50 per share offer price represents a 75 percent premium over Midas’ closing price of $6.58 on August 11, 2011, when Midas announced it would conduct a strategic review process, and a 28 percent premium over the closing share price as of Monday, March 12, 2012.
The proposed transaction has been unanimously approved by the boards of directors of both companies...

ITASCA, Ill., Oct 31, 2011 (BUSINESS WIRE) -- Midas, Inc. (NYSE: MDS) will present at the Gabelli & Company Automotive Aftermarket Symposium this week in Las Vegas.
Alan D. Feldman, Midas chairman and chief executive officer, will lead the presentation.
Midas' presentation at the Gabelli conference will be webcast live on Tuesday, Nov. 1, at 3:45 p.m. PT (6:45 p.m. ET).
The live webcast may be accessed at http://wsw.com/webcast/gabelli41/mds and at Midas' corporate site www.midasinc.com in the "Events" section. Replays of the webcast will be available through Nov. 24.
About Midas
Midas is one of the world's largest providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services at nearly 2,300 franchised, licensed and company-owned Midas shops in 15 countries, including more than 1,500 in the United States and Canada...

ITASCA, Ill., Sep 12, 2011 (BUSINESS WIRE) -- The presentation by Midas, Inc. (NYSE: MDS), at the C L King "Best Ideas" Conference at the Omni Berkshire Place Hotel in New York will be available via webcast on Tuesday, Sept. 13, beginning at 2:45 p.m. ET.

The 25-minute presentation by Alan D. Feldman, Midas' chairman and chief executive officer, and William M. Guzik, executive vice president and chief financial officer, will be accessible at www.wsw.com/webcast/clk9/mds/ or in the corporate events section of the company's website at www.midasinc.com. The presentation will be available on the sites until Oct. 12.

In advance of the presentation, Midas announced that it continues to experience positive retail sales in the United States and Canada...

Local Midas Dealers to Support Annual "Rockin' For The Troops" Benefit Concert ITASCA, Ill., Jul 12, 2011 (BUSINESS WIRE) -- Midas International Corporation, one of the world's largest automotive service providers, and its Chicago-land Midas dealers are supporting the welfare of U.S. troops in Iraq and Afghanistan with the sponsorship of Operation Support Our Troops - America. Local Midas franchisees will join the Chicago-based veteran support organization to kick off the annual Rockin' for the Troops fundraising concert on Saturday, July 16 at Contigny Park in Wheaton, Ill.

The 2011 Rockin' for the Troops event, to be headlined by award-winning actor Gary Sinise and his Lt. Dan Band, will benefit military members and their families by raising funds to ship thousands of care packages to active and wounded soldiers stationed in the U...

ITASCA, Ill., May 05, 2011 (BUSINESS WIRE) -- Midas International Corporation, the auto service provider, is sponsoring a benefit concert by award-winning actor Gary Sinise and his Lt. Dan Band on Friday, May 6, at Joe's Bar, 940 W. Weed St., in Chicago.

The concert will benefit the U.S. Veterans Art Program, which provides musical instruments, cameras and art supplies to wounded military service members and Veteran care facilities.

A native of the Chicago area, Sinise was a founder of the Steppenwolf Theatre Company here in 1974. His film credits include "Forrest Gump" and "Apollo 13" and he currently stars in "CSI: NY" on CBS-TV. Sinise is also the voice of a current Midas network radio campaign.

Midas has invited 40 service personnel from Great Lakes Naval Base as guests for the concert...

Interest rates unchanged ITASCA, Ill., Mar 16, 2011 (BUSINESS WIRE) -- Midas, Inc. (NYSE: MDS) has been granted a waiver by its bank group for violating certain financial covenants in its existing revolving credit facility, as a result of a recent ruling in the arbitration between the company and its European licensee MESA S.p.A. and Mobivia Groupe S.A.

As a result of the arbitration ruling, Midas must pay an approximate $25.5 million award (including interest) to MESA and Mobivia that has been accrued in the company's fourth quarter 2010 operating results. The company's December 2009 revolving credit facility's covenants required a maximum three-to-one ratio of total debt, including bank debt, letters of credit and the balance of capital leases, to the company's consolidated adjusted EBITDA...

ITASCA, Ill., Dec 06, 2010 (BUSINESS WIRE) -- Midas, Inc. (NYSE: MDS) said that retail sales growth at Midas shops in the United States has continued to gain the momentum that began building in the fourth quarter of 2009.

Preliminary results for October and November 2010 show that fourth quarter-to-date comparable shop retail sales per day in U.S. Midas shops have increased by four percent, following an increase of three percent for the first nine months of the year, according to Alan D. Feldman, Midas' chairman and chief executive officer. November comparable shop sales per day increased by 4.5 percent in U.S. shops.

"Our strategy of attracting new and returning customers with value-priced oil changes continues to build sales at U...

ITASCA, Ill., Nov 10, 2010 (BUSINESS WIRE) -- From lower air temperatures and falling snow to icy roads and even reduced visibility due to fewer daylight hours, winter driving poses a number of challenges. Midas International Corporation, one of the world's largest providers of automotive services, has compiled a collection of essential winter driving safety tips to make sure drivers are properly equipped to handle this season's toughest conditions. Consider the following tips for getting your car in shape before colder temperatures hit: Maximize your visibility. Replace worn wiper blades - generally, they should be replaced every six months - and ensure that your heater and defroster are working properly to aid in window clearing. Before you start driving, always remove all snow and ice from the hood, roof and trunk surfaces of your vehicle, not just the windshield, and defrost all windows...

ITASCA, Ill. (BUSINESS WIRE) -- Midas, Inc. (NYSE: MDS) will present at the Gabelli & Company Automotive Aftermarket Symposium this week in Las Vegas.

Alan D. Feldman, Midas chairman and chief executive officer, and William M. Guzik, executive vice president and chief financial officer, will lead the presentation.

Midas' presentation at the Gabelli conference will be webcast live on Tuesday, Nov. 2, at 4:30 p.m. PT (7:30 p.m. ET).

The live webcast may be accessed at www.wsw.com/webcast/gabelli36/mds and at Midas' corporate site www.midasinc.com in the "Events" section. Replays of the webcast will be available through Nov. 24.

Midas is one of the world's largest providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services at nearly 2,350 franchised, licensed and company-owned Midas shops in 15 countries, including nearly 1,600 in the United States and Canada...

Winning Musicians Share $17,000 in Cash PrizesITASCA, Ill. (BUSINESS WIRE) -- Music fans have spoken. They have chosen the "next great road songs" in a summer-long contest sponsored by auto service provider Midas International Corporation and SPIN.

More than 1,200 original songs were submitted in the competition. Judges comprised of SPIN editors, music industry experts and Midas representatives selected 10 finalists in two categories: "unplugged" for songs using non-amplified instruments and "amped" for songs using any number of instruments, recording style or production methods.

From the 20 finalists, music fans voted online for the top three songs in each category. First, second and third vote-getters in each category have won $5,000, $2,500 and $1,000, respectively...

The Car Coach(R) Lauren Fix Offers Tips for End-of-Summer Road Trips ITASCA, Ill. (BUSINESS WIRE) -- As California motorists take to the road this Labor Day, Midas is teaming up with nationally known Car Coach(R) Lauren Fix to offer tips to help keep your vehicle safe and reliable. Getting your car ready in advance of a road trip will not only help save money, but create peace of mind.

"Labor Day marks the 'unofficial' end of summer and many people will be hitting the road to get in one last summer road trip," said Fix. "Taking proper care of your car before leaving the driveway is the first step towards a safe trip."

Together with Fix, Midas suggests the following safety tips to make the most of end-of-the-summer travel...

Shop traffic increases by nine percent in U.S. Midas shops
U.S. comparable shop sales up 1.7 percent
Results for quarter negatively impacted by $0.03 of arbitration costs and $0.02 resulting from the acquisition of Northern California shops in January

ITASCA, Ill., Aug 05, 2010 (BUSINESS WIRE) -- Midas, Inc. (NYSE:MDS) reported net earnings of $0.8 million--or $0.06 per diluted share--for the second quarter ended July 3, 2010, compared to $0.4 million--or $0.03 per diluted share--in the second quarter of 2009. Second quarter 2010 results were negatively affected by $0.8 million of incremental legal and other expenses incurred in preparation for the July 2010 arbitration with the company's master licensee in Europe...

ITASCA, Ill. (BUSINESS WIRE) -- The submissions are in, and the competition for the title is now under way. Midas International Corporation and SPIN today announced the top 20 finalists in their search for the "Next Great Road Song." Listeners can vote to determine the winners at http://rockthehighway.sonicbids.com.

Culled from over 1,200 submissions, the "Next Great Road Song" finalists were selected by a panel of SPIN editors and music industry experts and representatives from contest sponsor Midas. The finalists comprise a diverse mix of the very best and most promising new, original road-trip-ready songs by unsigned bands and solo artists. Finalists are divided into two categories: "Unplugged," for songs using only acoustic, non-amplified instruments, and "Amped" for tracks using any number of instruments, recording style or production methods...

Company Continues Statewide Driving Safety Initiative to Educate Teens FRESNO, Calif. (BUSINESS WIRE) -- Lauren Fix, the well-known Car Coach(R), along with her teen daughter Shelby Fix, Teen Car Coach(R), is traveling throughout the state of California appearing at a series of teen "Safe Car, Safe Driver" clinics on behalf of Midas to educate teens and their parents about safe driving this summer.

"The summer months can be dangerous months," said Fix. "Teens have more free time and tend to become more lax about things, especially driving. As parents, it is our responsibility to not only talk to our kids about safe driving, but to lead by example by adopting a 'no distractions while driving' policy and being safer drivers ourselves...

ITASCA, Ill. (BUSINESS WIRE) -- As road trip season has arrived, it's important to be prepared for a summer full of adventure, fun and road travel. Midas International Corporation, one of the world's largest providers of automotive services, has partnered with top experts to provide families with the tools they need to help them have fun and be safe as they hit the highways. (Midas resources on road trips, car care and safe teen driving information are available at www.midassummer2010.com).

"The keys to a great road trip when you're taking the kids are to plan well, be prepared and then smile when it doesn't work out the way you think it will," says Kim Orlando, travel expert and founder of TravelingMom.com, the go-to source for moms who travel with and without their kids...

National Promotion Celebrates Music and the Open Road; Offers Musicians Cash Prizes

ITASCA, Ill., Jun 02, 2010 (BUSINESS WIRE) --On the Road Again. Running on Empty. Traveling Band.

For generations, the lure of the open road has inspired long and varied lists of classic songs. Now, Midas International Corporation, one of the world's largest providers of automotive services, is partnering with SPIN to launch the "Rock the Highway" sweepstakes and "Search for the Next Great Road Song" contest. Sweepstakes and contest details and Midas' tips for car care and safe teen driving are available at www.midassummer2010.com.

"At Midas, our job is to make certain our customers' vehicles are ready for those summer road trips," said Mike Bevan, Midas' director of retail marketing...

ITASCA, Ill.--(BUSINESS WIRE)--Midas, Inc. (NYSE: MDS):
Fourth quarter traffic up 20% U.S. comparable shop sales up 1.4% during quarter Company-operated shop comparable sales up 8.3% for quarter Fourth quarter loss of $(0.02) per diluted share after $(0.12) of special items Midas, Inc. (NYSE: MDS) reported a net loss of $(0.2) million--or $(0.02) per diluted share--for the fourth quarter ended Jan. 2, 2010, compared to net income of $2.7 million--or $0.20 per diluted share--in the prior year.

Fourth quarter 2009 results were negatively affected by business transformation charges of $2.9 million--or $(0.12) per diluted share. These business transformation charges primarily consisted of $0.4 million in severance and outplacement costs related to the previously announced reduction-in-force, $0...