Bapcor (ASX:BAP) has announced the sale of its TRS Tyre and Wheel business in New Zealand.
The automotive after parts business has not revealed how much TRS sold for but says the company will use the proceeds to reinvest in its core business.
TRS is a distributor of tyres for agricultural, materials handling and construction vehicles in New Zealand and generates annual sales of around $27 million.
Bapcor says TRS is a solid, well performing business but the opportunity was presented to divest TRS and enable it to become part of international group.
Shares in Bapcor (ASX:BAP) closed 0.45 per cent higher to $6.64 yesterday.