UK's Halfords to buy owner of National tyre servicing brand in $83 million deal


© Reuters. FILE PHOTO: A view of the Halfords store front in Rugby Britain November 19, 2020. REUTERS/Molly Darlington


(Reuters) – Halfords Group (LON:) Plc said it would buy Axle Group Holdings Ltd, which owns the popular National tyre servicing brand, for 62 million pounds ($82.54 million) as the motoring and cycling retailer expands its maintenance and repair business.

The company, which has benefited from a surge in cycling during the COVID-19 pandemic, said on Wednesday it intends to partially fund the acquisition by raising about 64 million pounds through a non-preemptive placing, a subscription and a retail offer.

($1 = 0.7511 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.