Yorkshire-based tyre wholesaler Bond International has announced the acquisition of three key businesses from Halfords Group, marking a notable expansion in its operational footprint. The acquisitions include Stepgrades Motor Accessories Ltd, known as Viking Wholesale Tyres, Birkenshaw Distributors Ltd, and McConecheys Commercial Fleet Services, setting the stage for Bond International's ambitious growth plans.
Strategic Growth and Partnership
Charlie Bond, Chief Executive of Bond International, highlighted the acquisitions as a cornerstone of the company's strategy to surpass £500 million turnover by 2026. With a remarkable growth trajectory since 2019, when the turnover stood at £181 million, Bond attributes this success to the strategic planning and execution by a new board of directors appointed that year. The partnership with Halfords Group extends beyond the acquisitions, with Bond International set to distribute tyres across the Halfords network, promising enhanced service levels across the UK.
A Joint Venture to Modernise and Expand
Further solidifying its expansion, Bond International has entered into a joint venture with Goodtread Tyre Co, a longstanding customer based in the Scottish Highlands. This collaboration aims to strengthen tyre distribution operations in north and west Scotland and the islands. With access to Bond's extensive stock of 1.6 million tyres, the venture is set to modernise the Birkenshaw Distributors operation, increasing stock availability and improving warehousing capabilities.
Sandy MacKenzie, Managing Director of Goodtread Tyre Co, expressed enthusiasm for the joint venture, anticipating significant benefits for both businesses through enhanced warehousing and modernisation efforts. Charlie Bond echoed these sentiments, stressing the joint venture's role in providing a first-class service to customers in the Highlands and Islands.
A Future of Growth and Innovation
These strategic moves by Bond International underscore the company's commitment to growth and innovation in the tyre distribution sector. With a focus on improving service levels, expanding operations, and modernising infrastructure, Bond International is poised for continued success in the coming years. The acquisitions and joint venture not only expand Bond's operational reach but also reinforce its position as a leading player in the UK tyre industry, promising exciting times ahead for the company and its customers.
What businesses did Bond International acquire from Halfords Group?
Bond International acquired Stepgrades Motor Accessories Ltd (trading as Viking Wholesale Tyres), Birkenshaw Distributors Ltd, and McConecheys Commercial Fleet Services from Halfords Group.
How will Bond International's acquisitions impact its growth?
The acquisitions are expected to significantly impact Bond International's growth, contributing to the company's long-term plan to exceed £500 million turnover by 2026. This marks a considerable increase from its £181 million turnover in 2019.
What are the strategic benefits of these acquisitions for Bond International?
These acquisitions enable Bond International to expand its distribution network, enhance service levels throughout the UK, and invest in infrastructure improvements. This strategic move is part of a broader plan to bolster the company's market position and operational efficiency.
What role does the joint venture with Goodtread Tyre Co play in Bond International's expansion strategy?
The joint venture with Goodtread Tyre Co is aimed at strengthening tyre distribution operations in north and west Scotland and the islands. It facilitates access to Bond's extensive stockholding, improves warehousing, and modernises the operations of the newly acquired Birkenshaw Distributors Ltd, enhancing service quality for customers in the region.
How will the joint venture benefit Goodtread Tyre Co and the local community in the Highlands and Islands?
The joint venture provides Goodtread Tyre Co with access to Bond International's 1.6 million tyre stock across their network, significantly enhancing the availability of tyres and service for customers in the Highlands and Islands. This collaboration brings more opportunities for both businesses through greater warehousing capabilities and modernisation efforts.
What is the significance of Bond International's partnership with Halfords?
By partnering with Halfords, Bond International secures a distribution agreement to supply tyres to Halfords' network, ensuring a steady demand for its products and reinforcing its position as a key player in the tyre distribution market in the UK.
How does Bond International plan to use its growth for future development?
The company aims to leverage its growth to invest further in its infrastructure, enhancing service levels for all its customers across the UK. This includes modernising operations, expanding distribution capabilities, and continuously improving the efficiency and reach of its services.
