MIDAS AUTO REPAIR STORES ARE LOCALLY OWNED INDEPENDENT FRANCHISES
Founded in 1956, today Midas has grown to over 2,100 locations worldwide. In the early days, we sold the best muffler on the market and it included a national warranty “for as long as you own your car.” This was unheard of and soon, other companies followed our lead. Fast forward to today. Vehicles consistently perform well even with more than 100,000 miles. Drivers are owning their vehicles longer and driving more. Fittingly, the Midas brand has evolved to that of total car care experts, offering a wide variety of maintenance and repair services to support customers in maintaining their vehicles for as long as possible.
The Midas brand is owned by parent company TBC Corporation, which purchased the franchise system in 2012. TBC, a marketer and distributor of tires and other products for the automotive replacement market, saw Midas as an elite brand that it could help grow by offering even more support, access to additional service lines—such as tires, and through strong national advertising campaigns. In 2005, TBC Corporation was acquired by Sumitomo Corporation of Americas, the largest wholly-owned subsidiary of Tokyo-based Sumitomo, one of the world’s leading traders of goods and services. In April 2018, Michelin North America acquired a 50% interest in TBC Corporation through a joint venture with Sumitomo Corporation of Americas.