Halfords to acquire company behind National
Halfords is to acquire the company behind the National tyre and automotive servicing, maintenance and repair company in a £62 million deal.
The acquisition of Axle Group Holdings is expected to complete on 9 December 2021. A further investment of around £17 million will be made post acquisition on associated capital expenditure and £2 million on integration costs.
National operates under the National Tyres and Autocare, Viking Wholesale Tyres and Tyre Shopper brands. Following the purchase, National will be integrated into Halfords’ autocentres business.
In a statement, Halfords said the acquisition will will bring the majority of UK mainland motorists within a 20-minute drive of a Halfords garage.
Graham Stapleton, chief executive of Halfords, added: “This acquisition helps cement our position as the UK’s largest vehicle service, maintenance and repair business. It will also see us deliver on our established strategy of evolving Halfords to become a motoring services focused business, with motoring revenue set to represent more than 70% of our pro-forma revenue following the acquisition.”
