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Former Director to Bid for Halfords UK

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LONDON, UK (May 30) – Former Halfords operations director John Mousell is considering a bid for the cycle and car parts store chain, which Boots put for sale at GBP 400 million (€ 660 million) last month. However, Mousell received little interest from Boots, who is to report its annual result later this week. Moussel, […]

LONDON, UK (May 30) – Former Halfords operations director John Mousell is considering a bid for the cycle and car parts store chain, which Boots put for sale at GBP 400 million (€ 660 million) last month. However, Mousell received little interest from Boots, who is to report its annual result later this week. Moussel, who served at Halfords from 1970-1992, is now Managing Director of Motor World, a car parts chain with 200 shops. He succeeded to attract 2 major investment banks to support him, added by British private equity bidders, such as Duke Street, Apax and Permira. Duke Street took over the Do-It-All shops from Boots in 1998, but concluded the Halfords take-over price too high. Mousell’s Motor World has been trying to convince other parties to come with a joint bid. Back in 1989 Halfords was purchased by Boots as a part of Ward White, an automotive and DIY retail chain at GBP 900 million (€ 1.5 billion).
Over its fiscal year, which ended on March 31, Halfords saw its operating profit jump by a 29.6% to GBP 54.3 million (€ 89.9 million) on a 4% higher GBP 528.7 million (€ 872.3 million) turnover. (FN)

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