Second disposal this year
Private equity group CVC Capital Partners has reduced its stake in motor accessories and bicycle retailer Halfords, with the sale of nearly£41 million worth of shares.

The sale comes only four years after the private equity group first bought into Halfords, and is the second share sale this year, leaving CVC with 5.1 million shares.

At the start of the month, Halford's revealed it was going ahead with global expansion plans, as it reported half-year like-for-likes up 6.5 per cent.

The group's first standalone cycle store - Bike Hut - opened in Brighton in November, with a second expected to open in London in February. Halford's is also starting international trials, with the opening of three stores in the Czech Republic next year.

The group has 420 stores in the UK and Ireland. Chief executive Ian McLeod said there was capacity to expand the chain to 520 shops by opening 15 to 20 stores each year.

Topics