Halfords expands cycling portfolio with £18m acquisition of Tredz and Wheelies

Halfords acquires Tredz and Wheelies Direct for at least £18.4m cash, with more paid depending on the financial performance this year

Retailer Halfords has stepped up its interest in the cycling market by acquiring two online companies for at least £18.4m, according to ShareCast News.

Tredz and Wheelies Direct, both founded by Keith and Michael Jones in South Wales, will continue to operate on a standalone basis, with revenues of around £32m for the year ending February 29, 2016.

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