Acquisition Of Boardman Bikes

RNS Number : 8284I

Halfords Group PLC

04 June 2014

 



4 June 2014

Halfords Group plc

Boardman Bikes Limited and Boardman International Limited

Halfords Group plc ("Halfords") is pleased to announce that it has acquired Boardman Bikes Limited and Boardman International Limited (together "Boardman Bikes").

Halfords sells the Boardman Performance Series exclusively in the UK and ROI, with the Boardman Elite Series sold at selected independent cycling retailers in the UK and USA. Both ranges are sold internationally by leading distributors and retailers such as Rebel Sports Group (Australia), Integrated Riding (Singapore) and Biken (South Korea).

Boardman Bikes will remain a standalone entity with the business continuing to be led by Andy Smallwood as Managing Director, with Chris Boardman as Chairman and Design Director.

Guidance for FY15 provided on 22 May 2014 remains unchanged on today's announcement.

Chris Boardman, founder and Chairman of Boardman Bikes commented:

"On behalf of Boardman Bikes I am delighted by today's news. We look forward to building on the success we have had to date with independent retailers, in international markets and with Halfords. This step will take the brand to the next level and their backing will allow us to further develop our research & development and extend our award-winning cycling ranges."

Matt Davies, Halfords Chief Executive commented:

"Our investment in Boardman Bikes, which have been ridden by multiple Olympic and world champions, demonstrates our growing position as a specialist cycling retailer. We have worked with Chris and his team since 2007; they have created one of the most important, fastest-growing and successful brands in UK cycling. We look forward to a continuation of the growth that both Boardman and Halfords have enjoyed with such a strong brand."

Enquiries

Investors & Analysts (Halfords)	[phone]
Craig Marks, Head of Investor Relations & Corporate Communications
Media (Maitland)	[phone]
Andy Donald
Neil Bennett

Forthcoming Newsflow

Halfords Group plc will publish its first-quarter interim management statement on 10 July 2014.    

Notes to Editors

About Halfords Group plc:

Halfords is the UK's leading retailer of automotive, cycling and leisure products and, through Halfords Autocentres, also one of the UK's leading independent car servicing and repair operators. Halfords customers shop at 465 stores in the UK and Republic of Ireland and at halfords.com for pick-up at their local store or direct home delivery. Halfords Autocentres operates from over 300 sites nationally and offers motorists

dealership-quality MOTs, repairs and car servicing at affordable prices.

The Halfords group strategy is based on three pillars:

·      Supporting Drivers Of Every Car

·      Inspiring Cyclists Of Every Age

·      Equipping Families For Their Leisure Time

The Getting Into Gear strategy for the Retail business is based on executing in five key areas in order to deliver a significantly-enhanced customer experience:

·      Service Revolution

·      The H Factor

·      Stores Fit to Shop

·      21^st Century Infrastructure

·      Click with the Digital Future

Halfords employs approximately 12,000 colleagues and sells around 9,000 product lines in store, increasing to around 30,000 Retail products online. The Retail offering encompasses significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and camping equipment. Halfords' private-label brands include Apollo, Carrera and Boardman cycles, augmented by a range of other brands of cycles and accessories, including Kona,Mongoose and Pinarello. In Auto, the Halfords Essentials and Halfords Enhanced ranges are sold alongside brands such as Generic Electric, Bosch, Garmin and TomTom. In Travel Solutions, Halfords sells a premium range of camping equipment including brands such as Vango and Outwell. Halfords offers customers expert advice and a fitting service called 'wefit' for car parts, child seats, satellite navigation and in-car entertainment systems, and a 'werepair' service for cycles.

www.halfords.com

www.halfordscompany.com

www.halfordsautocentres.com

About Boardman Bikes:

Launched in 2007, Boardman Bikes has become one of the fastest-growing cycling brands in the UK and established worldwide critical acclaim garnering multiple Olympic, world, European and national titles alongside numerous test-winning product reviews. The brand was co-founded by world-renowned British cyclist

Chris Boardman, MBE, one of the most influential cyclists of his generation and instrumental to the success of the British Cycling team. As chairman of the brand, Chris is also the inspiration behind the research and development of the range, using the wealth of experience gained from his professional career and beyond to design and develop world-class bikes.

Since launch, Boardman Bikes has grown into a global brand, successfully retailing all over the world and has been associated with the some of the world's best elite athletes including:

Nicole Cooke: Britain's first Olympics road-racing champion

Alistair Brownlee: European, Olympic & world triathlon champion

Jonathan Brownlee: Olympic bronze medalist & world triathlon champion

Pete Jacobs: Ironman triathlon world champion

 

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