Halfords buys National tyre and servicing chain for £62m

Halfords, has struck a deal to buy National tyre and servicing chain for £62m.

National, which trades as National Tyres and Autocare, Viking Wholesale Tyres and Tyre Shopper, operates 239 tyre and SMR garages and 60 mobile tyre fitting vans.

A further investment of £17m will be made post acquisition on associated capital expenditure and £2 million on integration costs.

Halfords will now have 604 garages, 234 consumer vans and 190 commercial vans on its books.

Including retail stores this will mean a combined total of over 1,400 fixed or mobile motoring services locations.

Halford said the acquisition will mean most UK motorists will be within a 20-minute drive of a Halfords garage.

Halfords wants to grow the business to reach 800 garages, 300 consumer vans and 500 commercial vans.

Post-acquisition, Motoring revenue is expected to represent more than 70% of the Group’s revenue.

[Source: Motor Trader online]