AP Eagers Limited
(ASX:APE) will acquire a set of automobile businesses operating as Tony Ireland Townsville.
The company says these businesses represent a number of brands (such as Holden, Land Rover, Jaguar and Hyundai Forklifts), and generate $85 million in annual revenue.
This deal will be worth between $5.5 and $7 million – depending on the performance of the acquired businesses over the next 3 years.
The company expects this transaction to be completed by the fourth quarter of this year.
AP Eagers reported a net profit of $87 million at 31 December 2015.
