Halfords Group, the UK's largest provider of motoring and cycling products and services, agreed to acquire Lodge Tyre Company, a well-established business in the UK commercial tyre market, for £37m. "The acquisition of Lodge Tyre is yet another example of Halfords’ strategic aim of becoming a Motoring Services-focused business, and will mean that Motoring accounts for over three quarters of our total revenue. The current trading environment reinforces the rationale for building ever-more resilient, needs-based revenue streams, which is exactly what the Motoring category offers. Within that, the nature of the commercial tyre market means that it is non-discretionary and therefore extremely well insulated against macroeconomic uncertainty," Graham Stapleton, Halfords CEO.