Halfords to acquire Axle Group for $83m.

Halfords, a retailer of motoring and cycling products and services, agreed to acquire Axle Group, a distributor of tires and auto care to retail consumers, for $83m. “This acquisition helps cement our position as the UK’s largest vehicle service, maintenance and repair business. It will also see us deliver on our established strategy of evolving Halfords to become a motoring services focused business, with motoring revenue set to represent more than 70% of our pro-forma revenue following the acquisition," Graham Stapleton, Halfords CEO.