Midas Acquires 20 Colorado Shops Bringing Company-Operated Total to 108

    ITASCA, Ill.--Oct. 5, 2001--Midas, Inc. has acquired 20 Midas locations in the greater Denver, Colo., market from long-time Midas franchisees Maxine and Norman Gay.
    "Midas looks forward to serving Denver area customers at the same high standards as provided by the Gays," said Wendel H. Province, Midas' chairman and chief executive officer. "They opened their fist Midas shop in 1967 and grew their Midas business steadily one shop at a time through their hard work and dedication to their customers."
    Midas now operates 108 shops located in eight states, including the 20 Denver shops. On Oct. 2, the company announced that it had acquired 52 Midas locations in Florida.
    In addition to Colorado and Florida, Midas owns shops in California, Connecticut, Illinois, New York, Ohio and Pennsylvania.
    "We are developing and evaluating new programs for operations and merchandising in the company-operated shops that can be extended to franchised shops throughout North America," Province said.
    "As sales of new cars decline, the nearly 2,000 franchised and company-operated Midas shops in North America are well-positioned to provide services for aging vehicles as motorists increase their highway driving," Province said.
    Midas is one of the world's largest providers of automotive service, offering exhaust, brake, steering and suspension services, as well as batteries, climate control and maintenance services at 2,700 franchised, company-owned and licensed Midas shops in 20 countries, including nearly 2,000 in the United States and Canada.