Halfords acquires Tredz and Wheelies in £18m deal

Halfords acquires Tredz and Wheelies in £18m deal

Halfords has acquired an online retailer of premium cycles and accessories for in a deal worth £18.4m.

The Redditch-based retailer has bought Swansea company, Tredz, which sells bikes, parts, accessories and clothing, and also Wheelies, which provides bicycle replacement for insurance companies.

Tredz and Wheelies together employ 250 people and have a turnover of £32m, the firms will continue to trade on a standalone basis and be led by Keith Jones and the existing management teams.

Jill McDonald, chief executive of Halfords, said: "We are delighted with this acquisition which we believe is a strong and complementary addition to the group, extending our presence in the online market for premium bikes, parts, accessories and clothing.

"We continue to believe in the long-term growth potential of the cycling market.

"Keith and his management team have done a fantastic job of building a successful online retail operation and we look forward to working with them to develop and grow the businesses further."

Keith Jones, managing director of Tredz and Wheelies, said: "We are very proud of the businesses that we've grown from a small shop 27 years ago into a strong operator in the premium cycling market.

"However, the time has come for us to work with a partner on the next phase of growth.

"Halfords is exactly what we were looking for. With the support and resources of a large group, we look forward to building upon what we have achieved so far to drive long-term growth."