Bapcor (ASX:BAP) set to purchase Truckline and Diesel Drive

Company News

by Katrina Bullock

Automotive aftermarket parts company, Bapcor (ASX:BAP), has penned agreements to purchase both Truckline and Diesel Drive.

Truckline is a commercial truck spare parts business with 150 team members; revenues of approximately $100 million and 22 branches Australia wide.

Diesel Drive specialises in the sale of Japanese commercial truck spare parts, has 14 team members and revenues of approximately $13 million.

Both businesses are set to be purchased for a combined price of approximately $48 million and are scheduled for completion this year.

Shares in Bapcor (ASX:BAP) are trading 0.42 per cent higher at $7.18.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.