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Halfords to acquire Universal Tyre and Autocentres for £15m
StockMarketWire.com
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Motoring and cycling products and services provider Halfords said it had reached agreement to acquire Universal Tyre and Autocentres, a motoring services provider in the South East of the UK, for £15 million.
Approximately £9m of the purchase price related to the acquisition of real-estate and the net cash position of the business, with the remaining £6 million paying for the underlying trading business, the company said.
'We intend to sell and lease back the property within the next few months,' it added.
This acquisition would take the ocmpany closer to its ambition of having over 550 garages in the UK and builds our coverage of the commercial truck and van market.
Following the transaction, Halfords would have 374 garages, 185 commercial vans, and 136 Halfords Mobile Expert vans operating in our Autocentres business.
At 8:41am: (LON:HFD) Halfords Group PLC share price was 0p at 242p
Story provided by StockMarketWire.com
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