Car parts and accessories retailer Super Cheap Auto Group Ltd
(ASX:SUL) says it has completed the acquisition of Ray’s Outdoors, announced in April.
The company says following stock counts of all Ray’s Outdoors stores and its distribution centre, the final consideration for the business was agreed at $53 million.
The price in the announcement on April 27, was slightly higher at $54 million, to be funded using $52.5 million in cash and $1.5 million in shares.
Ray’s Outdoors specialises in camping and outdoor leisure, and has 38 stores across five states.
Super Cheap Auto also owns the Boating Camping Fishing brand which has a network of 65 stores in all states except Tasmania.
Super Cheap Auto’s profit in fiscal 2009 was an improvement on the year before.
