Halfords

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Halfords Group plc (LSE: HFD) is a leading retailer of car parts, car enhancement, cycles and travel solutions in the United Kingdom and Republic of Ireland. It is part of the FTSE 250 Index of companies on the London Stock Exchange.

[edit] History

Halfords traces its origins to a store founded in Birmingham in 1892 by Frederick Rushbrooke as a wholesale ironmongery. The name originates from a store on Halford Street in Leicester, which was opened circa 1902 by Rushbrooke, selling cycling goods. In 1906, the 'Halford Cycle Company' was formed. [1] [2]

It opened its 200th store in 1931 and purchased the Birmingham Bicycle Company in 1945. In 1968 it opened its 300th store.

The company became a part of the Burmah Group in 1969, after a takeover battle that saw Smiths Industries also bidding. Although Frederick Rushbrooke had died in 1953, his son, M. M. Rushbrooke remained chief executive into the 1980s. [3]

After this acquisition the company moved to its purpose-built head office and warehouse located in Redditch, Worcestershire. It is still located there at present (2005).

The previous red, white and blue corporate identity of Halfords was introduced in the 1980s. This consisted of the Halfords name in white upon a blue background, with a white and red flat head screw design on the 'o' of the name.

In 1984, the business was acquired by Ward White Group but subsequently acquired by the Boots Group in 1989 and in 2002, the company was taken over by CVC Capital Partners from the Boots Group and in 2004 was floated on the London Stock Exchange. On [11th July 2005] Halfords would enter into a Collaboration Agreement with Autobacs Seven Co., a Japan based car accessory retailer with chains of stores all over the world and who is best known in other countries that do not have an Autobacs store for being the title sponsorship of Super GT and D1 Grand Prix. On [13th December], Autobacs acquired 5% (11,400,000 shares) of the company at approximately ¥7.5 billion.

Under the control of Chief Executive Officer, Ian McLeod, formerly Chief Executive of Celtic FC, Halfords now boasts 420 stores across the UK. The chain is currently benefiting from the interest in car modifying culture, having acquired the Ripspeed brand in 1999. To compete in the ever increasingly competitive performance market, they are now starting to rebrand the Ripspeed franchise as RipspeedX with a new corporate identity. This rollout has started at the flagship Gateshead Team Valley branch in the north east of England.