Acquisitions are strategic moves in our plan designed to fill in and expand our presence in existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.

We signed a definitive asset purchase agreement to complete the acquisition of eight retail tire and automotive repair stores located in Florida from Martino Tire Stores on January 28, 2015. This transaction is expected to close during the fourth quarter of fiscal 2015. These stores will operate under The Tire Choice brand. The acquisition is expected to be financed through our existing credit facility.

On December 7, 2014, we acquired nine retail tire and automotive repair stores in Florida from Gold Coast Tire & Auto Centers. These stores operate under The Tire Choice name. The acquisition was financed through our existing credit facility.

During July and December 2014, we acquired four retail tire and automotive repair stores located in New York and Georgia through four separate transactions. These stores operate under the Mr. Tire name. The acquisitions were financed through our existing credit facility.

On September 28, 2014, we acquired nine retail tire and automotive repair stores located in Georgia from Wood & Fullerton Stores, LLC. These stores operate under the Mr. Tire name. The acquisition was financed through our existing credit facility.

On August 8, 2014, we acquired 35 retail tire and automotive repair stores located in Florida from Hennelly Tire & Auto, Inc. These stores operate under The Tire Choice name. The acquisition was financed through our existing credit facility.

On June 15, 2014, we acquired ten and nine retail tire and automotive repair stores located in Michigan from Lentz U.S.A. Service Centers, Inc. and Kan Rock Tire Company, Inc., respectively. These stores operate under the Monro Brake & Tire name.

On April 13, 2014, we acquired two retail tire and automotive repair stores located in New Hampshire from Bald Tire & Auto, Inc. These stores were previously Tire Warehouse franchise locations and continue to operate under the Tire Warehouse name.

The acquisitions resulted in goodwill related to, among other things, growth opportunities and unidentifiable intangible assets. All of the goodwill is expected to be deductible for tax purposes. We have recorded finite-lived intangible assets at their estimated fair value related to trade names, customer relationships and favorable leases.

In accordance with accounting guidance on business combinations, we expensed all costs related to the acquisitions in the nine months ended December 27, 2014. The total costs related to the acquisitions were $.3 million and $.9 million for the three and nine months ended December 27, 2014, respectively. These costs are included in the Consolidated Statements of Comprehensive Income primarily under operating, selling, general and administrative expenses.

The purchase price of the acquisitions has been preliminarily allocated to the net tangible and intangible assets acquired, with the remainder recorded as goodwill on the basis of estimated fair values, as follows:


	As of December 27,
	2014
	(Dollars in thousands)
Inventories		$	5,123
Other current assets			561
Property, plant and equipment			30,174
Intangible assets			8,759
Long-term deferred income tax assets			15,235
Other non-current assets			73
Total assets acquired			59,925
Warranty reserves			730
Other current liabilities			2,673
Long-term capital leases and financing obligations			48,064
Other long-term liabilities			1,251
Total liabilities assumed			52,718
Total net identifiable assets acquired		$	7,207

Total consideration transferred		$	82,694
Plus: gain on bargain purchase			386
Less: total net identifiable assets acquired			7,207
Goodwill		$	75,873

The following are the intangible assets acquired and their respective estimated fair values and weighted average useful lives:

		As of
		Acquisition
		Date
		Weighted
	Dollars in	Average
	thousands	Useful Life
Trade names	$3,548	14 years
Customer relationships	3,616	7 years
Favorable leases	1,595	17 years
Total	$8,759	12 years

Sales for the fiscal 2015 acquired entities for the three and nine months ended December 27, 2014 totaled $18.8 million and $29.5 million, respectively, for the period from acquisition date through December 27, 2014.

Supplemental pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entities were not owned by Monro.

As part of the acquisition process, we finalized the purchase accounting for the following fiscal 2014 acquisitions during fiscal 2015:

Carl King Tire Co., Inc., involving six retail tire and automotive repair stores located in Maryland and Delaware, which were acquired on November 17, 2013.

S&S Firestone, Inc., involving four retail tire and automotive repair stores located in Kentucky, which were acquired on November 17, 2013.

XL Tire, Inc., involving two retail tire and automotive repair stores located in North Carolina, which were acquired on October 20, 2013.

Curry's Automotive Group, involving ten retail tire and automotive repair stores located in the Washington D.C. metropolitan area, which were acquired on August 18, 2013, and

Mitchell Tire Service, involving one retail tire and automotive repair store located in New Jersey, which was acquired on August 11, 2013.

The resulting adjustments were not material to the Consolidated Financial Statements.

The aggregated fiscal 2014 acquisitions are not material to the Consolidated Financial Statements. Additionally, supplemental pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entity was not owned by Monro.

We continue to refine the valuation data and estimates primarily related to road hazard warranty, intangible assets, real estate and real property leases for all other fiscal 2014 acquisitions and all fiscal 2015 acquisitions, and expect to complete the valuations no later than the first anniversary date of the respective acquisition. We anticipate that adjustments will continue to be made to the fair values of identifiable assets acquired and liabilities assumed and those adjustments may or may not be material.