from Halfords (isin : GB00B012TP20)
Halfords Group PLC: Halfords receives investment in its Avayler business, with Bridgestone taking a 5% stake
Halfords Group PLC (HFD)
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 FOR IMMEDIATE RELEASE 1 Nov 2023 Halfords Group plc (“Halfords” and together with its subsidiaries, the “Group”) Halfords receives investment in its Avayler business, with Bridgestone taking a 5% stake.
Halfords, the UK’s leading provider of Motoring and Cycling products and services, today announces that it has reached an agreement for the sale of a 5% minority stake in its Avayler business, Avayler Trading Limited (“Avayler”), to Bridgestone Americas, Inc. (“Bridgestone”), a leading global mobility company, and has also agreed the terms of a master commercial agreement with Bridgestone (the “Commercial Agreement”) to establish their business as an ongoing client of Avayler (together, the “Transaction”). Headlines:
Avayler overview
Transaction summary
Graham Stapleton, Chief Executive Officer of Halfords, commented: “Since its launch a little over two years ago, Avayler has been chosen by some of the largest automotive businesses in the world who have immediately realised the compelling value that it can add to their operations. Today’s investment from Bridgestone, one of the world’s largest mobility companies with over 3,000 garages and vans under its world-wide operation, is another fantastic endorsement for the platform, and the length and scope of the agreement fuels our confidence in Avayler’s long-term potential as we continue to roll it out to more clients around the world.” Avayler had gross assets as at 31st March 2023 of £3,054,618, and generated a loss of £74,662 in the financial year ending March 2023.
Enquiries Investors & Analysts (Halfords) Jo Hartley, Chief Financial Officer Andrew Smith, Group Financial Controller Louise Richardson, Head of Investor Relations +44 (0) 7483 457 415
Media (Powerscourt) +44 (0) 20 7250 1446 Rob Greening halfords@powerscourt-group.com Nick Hayns Elizabeth Kittle The person responsible for releasing this announcement is Jo Hartley, Chief Financial Officer.
Notes to Editors www.halfords.com www.avayler.com www.tredz.co.uk www.halfordscompany.com Halfords is the UK’s leading provider of motoring and cycling services and products. Customers shop at 393 Halfords stores, 2 Performance Cycling stores (trading as Tredz and Giant), 643 garages (trading as Halfords Autocentres, McConechy’s, Universal, National Tyres and Lodge Tyre) and have access to 264 mobile service vans (trading as Halfords Mobile Expert, Tyres on the Drive and National), 479 commercial vans and 5 HME Cycling vans. 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 announcement 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.
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
ISIN: | GB00B012TP20 |
Category Code: | MSCH |
TIDM: | HFD |
LEI Code: | 54930086FKBWWJIOBI79 |
Sequence No.: | 281805 |
EQS News ID: | 1762043 |
End of Announcement | EQS News Service |