Halfords buys into car servicing
18 February 2010
- Buys Nationwide Autocentres
- 200 new centres and 1000 extra jobs
- Deal is worth more than £73 million
Halfords has extended its retail business into car servicing with the acquisition of Nationwide Autocentres.
The deal, worth around £73 million, will result in Nationwide Autocentre's 224 centres being rebranded as Halfords Autocentres.
Along with car servicing, the purchase will also allow Halfords to offer MoT tests and creates the UK's largest specialist brand in car parts, servicing and repairs.
More centres – and 1000 new jobs
Plans are also in place for Halfords to extend the reach of its new business by opening another 200 outlets across the country. The new branches will open at the rate of around 25 a year.
The new centres are expected to create around 1000 new jobs. Nationwide Autocentres employs 900 people, and has been owned by private equity firm Phoenix since 2006.
Halfords chief executive David Wild said: 'Car maintenance is a large and highly attractive sector where there is increasing demand from motorists for reliable service at affordable prices.
'Nationwide is a high-quality business and represents an opportunity for significant growth.'
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