Monro Inc. (NASDAQ: MNRO) announced its board of directors has begun reviewing strategic alternatives to maximize shareholder value, according to a company statement.

The automotive repair and tire services provider said the board will evaluate options including asset sales, business refinancing, strategic acquisitions, operational improvements, or a complete sale of the company. The review is being conducted with financial and legal advisors.

"The Board determined that now is the right time to initiate a comprehensive review of strategic alternatives," said Robert Mellor, chairman of the board.

Peter Fitzsimmons, president and chief executive officer, said the strategic review will allow the company to "explore all options and determine the best path forward" while continuing improvement initiatives.

The company stated the review is in preliminary stages with no set deadline or timeline for completion. Monro indicated there is no guarantee the process will result in any transaction or strategic outcome.

Monro operates as a provider of automotive service and tire retail, generating approximately $1.2 billion in sales in fiscal 2026. The company does not plan to make further public comments unless it determines additional disclosure is necessary.

The information is based on a company press release statement.