A.P. EAGERS BOLSTERS DEALERSHIPS WITH ACQUISITION

Written on the 6 May 2014

A.P. EAGERS BOLSTERS DEALERSHIPS WITH ACQUISITION A.P. EAGERS Limited (ASX:APE) is set to acquire the motor trade operations of Craig Black Group for $35 million, subject to regulatory approvals.

The company turns over about $245 million each year, selling 4,100 vehicles and employing 280 staff members.

The deal will be made up of a combination of cash and A.P. Eagers shares, expected to be earnings accretive in the second half of 201.

Craig Black started the company in 1983 with his wife Anne and has agreed to stay on as a consultant.

APE CEO Martin Ward (pictured) says he is “delighted” that Black will continue as part of the team.

The business’ headquarters is in Dalby, with Toyota, Hyundai and Mitsubishi dealerships located around South West and Central Queensland.

A Budget rental car franchise in Toowoomba and Boonarga fabrication and fitment business will also be included in the deal.

The acquisition is expected to be completed in August. 


Latest News

SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX Medical Ltd (ASX: SRX) has sacked its chief executive officer, Gilman Wong (pictured), following an investigat...

SANTA DELIVERS KOGAN A GIFT

KOGAN.COM (ASX: KGN) has exceeded its expectations and reported another strong quarter of trade.

The online retail...

FOUR WAYS YOU SHOULD PROTECT YOUR IT SYSTEMS FROM EXTREME WEATHER

SHANNON Overs, co-founder of onPlatinum ICT, sees it too often, perhaps half a dozen times per year businesses tha...

IOT GROUP ORDERS FIRST PRODUCTION OF ROVA DRONE

IOT Group (ASX:IOT) has ordered production of 40,000 units of the ROVA flying selfie drone from Chinese technologies ...

Related News

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

FEMALE ENTREPRENEURS GET SPRINGBOARD TO GROWTH

DESPITE the fast-growing number of women studying STEM subjects at school and university, women continue to be und...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter