Halfords

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Halfords
Type Public (LSEHFD)
Industry Retail
Founded 1892
Founder(s) F W Rushbrooke
Headquarters Redditch, England, UK
Area served UK
Ireland
Key people Dennis Millard
(Chairman)
Matt Davies
(Chief Executive)
Products Ripspeed, Bicycles and accessories, SatNav, Car audio, Tools, Child seats etc.
Services Bicycle repair, vehicle part fitting, audio installation, paint mixing
Revenue £871.3 million (2013)[1]
Operating income £78.1 million (2013)[1]
Profit £52.7 million (2013)[1]
Employees 12,397 (2013)[1]
Website www.halfords.com

Halfords Group plc is a retailer of car parts, car enhancement, camping, touring and bicycles operating in the UK and Ireland. They also provide MOT, service and repairs in the UK through Halfords Autocentre. Halfords Group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

A Halfords in Kirkstall, Leeds
Former Halfords logo, introduced in 1983, until 2003

The company was founded by Frederick Rushbrooke in Birmingham in 1892 as a wholesale ironmongery.[2] In 1902, Rushbrooke moved to a store on Halford Street in Leicester, for which street the company was named, and started selling cycling goods.[2]

It opened its 200th store in 1931 and purchased the Birmingham Bicycle Company in 1945.[2] In 1968, it opened its 300th store.[2]

The company became a part of Burmah Oil in 1969, following a takeover battle between Burmah and Smiths Industries.[2] During this time, Denis Thatcher, husband of the future Prime Minister Margaret Thatcher, was a non-executive director.[3]

The Company was acquired by Ward White Group in 1983[2] and subsequently acquired by the Boots Group in 1991.[2] It was then taken over by CVC Capital Partners in 2002[2] and in 2004 it was floated on the London Stock Exchange.[2]

On 11 July 2005, Halfords entered into a Collaboration Agreement with Autobacs Seven Co.,[4] a Japan-based car accessory retailer with chains of stores all over the world and who is best known in other countries that do not have an Autobacs store for being the title sponsorship of Super GT and D1 Grand Prix. On 13 December 2005 Autobacs acquired 5% (11,400,000 shares) of the company at approximately ¥7.5 billion.[5]

On 18 February 2010, the company announced a deal to purchase the Nationwide Autocentre MOT chain from the private equity firm Phoenix. The plan was to rebrand the centres under the Halfords name and open another 200. As of January 2013, there are over 250 Halfords Autocentre garages dealing with MOTs, car repairs and servicing.[6]

In 2014 Halfords acquired the British bicycle manufacturer Boardman Bikes Ltd. (founded by the professional cyclist Chris Boardman, Sarah Mooney and Alan Ingarfield) for undisclosed sum.[7][8]

Operations[edit]

A typical Halfords exterior, the Ocean Park store in Portsmouth

The Company operated 462 stores as of 2 April 2010.[9] These stores are in the UK and the Ireland. Previously, the company has had branches in Central Europe, including Poland, where the first store opened at the end of 2008. This was part of a company strategy that involved expanding into Eastern European countries where the average age of cars is being slightly older, and people are more adept at car maintenance.

As of April 2013, Halfords no longer operates stores outside of the UK or Ireland.[10]

The Group use the following sub-brands as part of their portfolio - Bikehut, Boardman Bikes, Carrera bicycles, Apollo, Trax, Victoria Pendelton, Urban Escape, Exodus, Pampero, Sendai, Ripspeed.

Sponsorship[edit]

The team won the BTCC overall Drivers Championship in 2005 and 2006 with driver Matt Neal.[11] In 2007 Halfords sponsored the Team Dynamics BTCC racing team under the name of Team Halfords[12] and in 2008 Halfords started sponsoring a mixed professional bike team, Team Halfords Bikehut, headed by Nicole Cooke.,[13] which dispanded ahead of the 2010 season.

References[edit]

External links[edit]