Halfords becomes UK’s largest commercial tyre provider through purchase of Lodge Tyre
Halfords has acquired family-owned tyre business Lodge Tyre in a £37.2 million deal as part of plans to become a motoring services-focused business.
Lodge Tyre provides automotive services to B2B customers from 50 garages and 248 mobile vans across the across the Midlands, East Anglia, North Wales and the North-West.
The acquisition will make Halfords the UK’s largest B2B commercial tyre provider by revenue and national coverage.
Graham Stapleton, chief executive of Halfords, said: “The acquisition of Lodge Tyre is yet another example of Halfords’ strategic aim of becoming a motoring services-focused business, and will mean that motoring accounts for over three quarters of our total revenue.
“The current trading environment reinforces the rationale for building ever-more resilient, needs-based revenue streams, which is exactly what the motoring category offers. Within that, the nature of the commercial tyre market means that it is non-discretionary and therefore extremely well insulated against macroeconomic uncertainty.”
