Halfords has snapped up automotive service and repair chain National in a deal that boss Graham Stapleton says “cements” the chain as the UK’s largest vehicle repair business.
Halfords said the deal to acquire National, which operates under the brands National Tyres and Autocare, Viking Wholesale Tyres and Tyre Shopper, will mean its garage estate grows by more than 60%, from 372 to 604.
The acquisition will also mean motoring will represent at least 70% of the group’s pro forma revenue, while services are expected to grow to more than 40% of revenue.
The business said the acquisition “is both strategically and financially compelling, delivering on Halfords’ objective of evolving into a business more heaving weighted towards motoring services”.
Upon completion of the acquisition, the majority of UK motorists will be a 20-minute drive from a Halfords garage and the group will operate a combined total of 1,400 fixed or mobile motoring services locations.
The deal will be completed on December 9, after which a further £17m will be made on associated capital expenditure, as well as £2m on integration costs.
Halfords chief executive Graham Stapleton said: “This acquisition helps cement our position as the UK’s largest vehicle service, maintenance and repair business.
“National has a high-quality, UK-wide network of garages and mobile tyre-fitting vans, and 1,400 highly skilled colleagues, providing a complementary fit with Halfords’ existing operations. Post-acquisition, Halfords will have over 1,400 fixed or mobile motoring services locations, servicing a broad range of vehicles and delivering 7.5 million motoring jobs a year.”
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