Halfords Group PLC: Acquisition of Universal Tyre and Autocentres (1176850)
March 19 2021 - 3:00AM
UK Regulatory
Halfords Group PLC (HFD)
Halfords Group PLC: Acquisition of Universal Tyre and Autocentres
19-March-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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19 March 2021
Halfords Group plc: Acquisition of Universal Tyre and Autocentres
Building a market-leading Motoring Services business
Halfords Group plc ("the Group"), the UK's leading provider of motoring and cycling products and services, is pleased
to announce it has reached agreement to acquire Universal Tyre and Autocentres ("Universal"), a well-established
motoring services provider in the South East of the UK, for consideration of GBP15m. Approximately GBP9m of the purchase
price relates to the acquisition of real-estate and the net cash position of the business, with the remaining GBP6m
paying for the underlying trading business. We intend to sell and lease back the property within the next few months.
Based in Kent, with 201 sites and 89 commercial vans operating in the South East and on the east coast of the UK,
Universal specialises in tyre services, including the supply and fit of tyres for a wide range of vehicles, from cars
to commercial and agricultural vehicles, as well as providing general car maintenance and repairs such as brakes,
servicing and MOT. Universal is set to report revenue in excess of GBP31m and EBITDA in excess of GBP1.5m for the year
ended 31 December 20202. Post-acquisition, we are confident we can deliver synergies to the combined business.
This acquisition takes us closer to our stated ambition of having over 550 garages in the UK and builds our coverage of
the Commercial Truck and Van market. Following the transaction, we now have 374 garages, 185 Commercial vans, and 136
Halfords Mobile Expert vans operating in our Autocentres business. Combined with our 404 retail stores, we provide
motoring services from over 1,000 locations, giving our customers unmatched levels of convenience across the country.
Following on from our acquisitions of McConechy's and Tyres on the Drive in 2019, this is another exciting step in the
growth of Halfords' motoring servicing business as we continue to inspire and support a lifetime of motoring and
cycling, and establish ourselves as a leading motoring service provider in the UK.
1. In addition to 20 garages, Universal also operate from 1 warehouse/head office and from 5 other sites.
2. Subject to audit.
Graham Stapleton, Chief Executive Officer, commented:
"We have a clearly stated strategy of building a market-leading Motoring Services offer, and the acquisition of
Universal is another important step forward in helping us to achieve that goal. We continue to see strong demand for
our Autocentres, for our expanding fleet of Halfords Mobile Expert vans, and for our growing commercial business.
Universal will help us to meet that demand whilst also expanding our geographic footprint in a market for which we see
significant potential."
Enquiries
Investors & Analysts (Halfords)
Loraine Woodhouse, Chief Financial Officer
+44 (0) 7483 360 675
Neil Ferris, Corporate Finance Director
neil.ferris@halfords.co.uk
+44 (0) 1527 513189
Andy Lynch, Head of Investor Relations
andrew.lynch@halfords.co.uk
Media (Powerscourt) +44 (0) 20 7250 1446
Rob Greening halfords@powerscourt-group.com
Lisa Kavanagh
Notes to Editors
www.halfords.com www.halfordscompany.com www.tredz.co.uk
Halfords is the UK's leading provider of motoring and cycling
products and services. Customers shop at 404 Halfords stores, 3
Performance Cycling stores (trading as Tredz and Giant), 374
garages (trading as Halfords Autocentres, McConechy's and
Universal), 185 commercial vans (McConechy's and Universal) and 136
mobile service vans (trading as Halfords Mobile Expert and Tyres on
the Drive). Customers can also shop at halfords.com and tredz.co.uk
for pick up at their local store or direct home delivery, as well
as booking garage services online at halfords.com.
Cautionary statement
This report contains certain forward-looking statements with
respect to the financial condition, results of operations, and
businesses of Halfords Group plc. These statements and forecasts
involve risk, uncertainty and assumptions because they relate to
events and depend upon circumstances that will occur in the future.
There are a number of factors that could cause actual results or
developments to differ materially from those expressed or implied
by these forward-looking statements. These forward-looking
statements are made only as at the date of this announcement.
Nothing in this announcement should be construed as a profit
forecast. Except as required by law, Halfords Group plc has no
obligation to update the forward-looking statements or to correct
any inaccuracies therein
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ISIN: GB00B012TP20
Category Code: ACQ
TIDM: HFD
LEI Code: 54930086FKBWWJIOBI79
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 95890
EQS News ID: 1176850
End of Announcement EQS News Service
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