Halfords

A typical Halfords exterior, the store in Ocean Park, in Portsmouth (2009)
Type	Public
Traded as	(LSE: HFD)
Industry	Automotive Services
Founded	1892 (1892)
Founder	Frederick Rushbrooke
Headquarters	Redditch, Worcestershire , England
Area served	United Kingdom and Ireland
Key people	Keith Williams (Chairman) Graham Stapleton (Chief Executive)
Products	Electric bikes, push bikes and accessories, car parts, SatNav, Car audio, Tools, Child seats etc.
Services	Car servicing, bike repair, vehicle part fitting, basic audio and dash-cam installations.
Revenue	£ 1,382,400,000(2022)[1]
Operating income	£89.8 million (2022)[2]
Number of employees	10,000 (2018)[3]
Subsidiaries	Halfords Autocentre Boardman Bikes Ltd. Tyres on the Drive
Website	www.halfords.com

Halfords Group PLC is a UK retailer of motoring and cycling products and services. Through Halfords Autocentre, they provide vehicle servicing, MOT, maintenance and repairs in the United Kingdom.^[4]

Halfords Group is listed on the London Stock Exchange.

History

A Halfords in Kirkstall, Leeds (2006)

Halfords was founded by Frederick Rushbrooke, in Birmingham in 1892, as a wholesale ironmongery.^[5] The company takes its name from Halford Street in Leicester, where Rushbrooke opened a store in 1902 and started selling cycling goods.^[5] The street was named after Henry Halford.

Halfords opened its two hundredth store in 1931, and purchased the Birmingham Bicycle Company in 1945.^[5] It opened its three hundredth store in 1968.^[5] The company became a part of Burmah Oil in 1965, following a takeover battle between Burmah and Smiths Industries.^[5]

The company was acquired by the Ward White Group in 1983,^[5] from whom the Boots Group acquired it in 1989. Halfords was later demerged from the Boots Group in 2002.^[6][5]

Halfords was taken over by CVC Capital Partners in July 2003^[5] and, in June 2004, it was floated on the London Stock Exchange.^[5]

Halfords rebranded in February 2003, to the black and orange logo it has today.^[7]

Halfords entered into a Collaboration Agreement with Autobacs Seven Co. on 11 July 2005,^[8] a Japan based car accessory retailer with chains of stores all over the world and is best known for being the title sponsor of Super GT and D1 Grand Prix.^[9]

Autobacs acquired 5% (11,400,000 shares) of the company on 13 December 2005, at approximately ¥7.5 billion.^[10]

Halfords opened its first shop in Central Europe in June 2007, in a village near Prague. In the next two years, it opened five more stores in the Czech Republic and one in Poland (Wrocław, 2008). Expansion into Central Europe was seen as an opportunity, because the cars on the road tend to be slightly older there, so people would be more adept at car maintenance.^[11]

In March 2010, Halfords ceased its international expansion to refocus on the domestic market.^[12]

In February 2010, the company announced its expansion into autocare and that it was acquiring the chain Nationwide Autocentre MOT from private equity firm Phoenix. As of January 2024, there are over 250 garages branded Halfords Autocentre, providing MOTs, car repairs and servicing.^[13]

In June 2014, Halfords acquired the British bicycle manufacturer Boardman Bikes Ltd. (founded by the professional cyclist Chris Boardman, Sarah Mooney and Alan Ingarfield) for an undisclosed sum.^[14][15]

Halfords acquired Swansea based Tredz Bikes, an online retailer of premium bikes and cycling accessories, and Wheelies, the largest provider of bicycle replacement for insurance companies in the United Kingdom, for £18.4m, from founders Keith and Michael Jones, on 24 May 2016. The group turned over around £32m, in the year to 29 February 2016, making a profit, before financial charges of £2.4m.^[16]

At a Capital Markets Day in September 2018, Halfords announced a new strategy, entitled "To Inspire and Support a Lifetime of Motoring and Cycling".^[17] It has three priorities:

1. Inspire customers with a differentiated and specialist offer
2. Support customers through an integrated and more convenient service
3. Enable a lifetime of motoring and cycling

In 2019, CEO Graham Stapleton announced he was placing greater focus on growing Halford's motoring services business. In November 2019, Halfords acquired McConechy’s garages in Scotland^[18] and Tyres on the Drive mobile tyre fitting service.^[19] In March 2021, the business acquired Universal Tyres and Garages.^[20]

Since 2020, Halfords sells E-bikes and E-scooters.

In December 2021, Halfords acquired rival tyres and auto-care chain National Tyres and Autocare for £62m. The chain will continue to trade under the same name following the acquisition.

in October 2022, Halfords announced it had acquired the UK commercial tyre business, Lodge Tyre Company for £37.2m.^[21]

Operations

Since 2010, Halfords Retail has operated around 465 stores, of which about 22 are in the Republic of Ireland, and the others in the United Kingdom.^[22]

As of June 2021, Halfords has 404 stores, 3 Performance Cycling stores (trading as Tredz and Giant), 374 garages (trading as Halfords Autocentres, McConechys and Universal Tyres and Autocentres) and 143 mobile service vans (trading as Halfords Mobile Expert and Tyres on the Drive) and 192 Commercial vans.^[23]

Sponsorship

In 1987, Halfords sponsored the team of Professional Road Cycling, ANC Halfords, and that year, entered the Tour de France. However, the team ran out of money, at the end of the season, and officially disbanded.

Halfords first sponsored a team in the British Touring Car Championship in 1992, when it backed Ian Flux in a BMW. The company returned as a major sponsor for the 2002 season, partnering with Vic Lee Racing to sponsor its bright orange Peugeot 406 Coupé cars.

When VLR's efforts to make the grid in 2004 fell through, Halfords switched allegiance to Team Dynamics, sponsoring Matt Neal and Dan Eaves. In 2005 and 2006, Neal brought Halfords title glory, winning the overall drivers' titles. The company remained loyal to Team Dynamics thereafter, returning as a BTCC sponsor in 2016 with Team Dynamics, resulting in another title success with Gordon Shedden. Halfords remained in the BTCC until the end of the 2022 season, before parting ways with Team Dynamics ahead of the 2023 BTCC.^[24]

In January 2008, Halfords started sponsoring a mixed professional bike team, Team Halfords Bikehut, headed by Nicole Cooke.^[25]

Halfords announces a 15 month partnership to sponsor ITV National Weather from October 2018.^[26]

Cycle Republic

In November 2014, Halfords announced it was going to revive its Cycle Republic chain of specialist bicycle stores, primarily focused on urban cycling and commuting, which is reflected in the brand's styling.^[27] The first store was opened in London, on 12 December 2014.^[28] The company's shop estate twenty two shops,^[29] and an ecommerce website operation offering an extended product range, as well as financing options.^[30]

The company's flagship store in Canary Wharf was opened by Olympian, Victoria Pendleton, in January 2018.^[31]

Cycle Republic sponsored the racing team, Morvélo Basso, for 2018.^[32] The company also provides event support at cyclo sportives around the country, including Etape Loch Ness, Palace2Palace and Velo Birmingham.^[33] The company announced a new, strategic partnership with the folding bike manufacturer Brompton, in the end of 2018.^[34] Cycle Republic ceased trading under that name and the subcompany merged with another chain bought by Halfords called Tredz, which Halfords have stated will uphold any extended warranties.

References

External links

Wikimedia Commons has media related to Halfords.

• Official website