Halfords Group plc (LSE:HFD) signed a share purchase agreement to acquire Lodge Tyre Company Limited(The) for £37.2 million on October 5, 2022. Halford acquired the entire issued share capital of Lodge Tyre on a cash free, debt free basis, the consideration of £33.2 million paid on completion in cash and £4 million paid in FY25 subject to successfully achieving set profit performance criteria. A further investment of up to £6 million of capex will be made in the three years post the Acquisition to integrate and optimise the business. Targeted synergy benefits are expected to deliver incremental EBITDA of £3.8 million per annum by 5 years. The Consideration reflects a 4x multiple of 5 year EBITDA. Lodge Tyres' existing shareholders Andrew Martin Christmas, Martyn Joseph Lodge and Simon Peter Christmas will remain in the business on employment contracts as members of the Lodge senior management team.

Halfords Group plc (LSE:HFD) completed the acquisition of Lodge Tyre Company Limited(The) on October 5, 2022.