Deals on wheels: Halfords buys two bike businesses

Halfords is expanding its presence in the high-end cycle market. Picture: Contributed

Halfords is expanding its presence in the high-end cycle market. Picture: Contributed

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Halfords has splashed out £18.4 million to acquire two firms as part of plans to ramp up its online offering in the premium bicycle market.

The retailer has snapped up online company Tredz, along with Wheelies, which provides replacement cycles for insurance companies. The two South Wales companies together turned over £32m last year.

READ MORE: Halfords hires Sir Bradley Wiggins after sales slump

Halfords chief executive Jill McDonald said she continues to “believe in the long-term potential of the cycling market”.

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