MotorCycle Holdings drives acquisitions over the line

06Nov

MotorCycle Holdings drives acquisitions over the line

 

Australia’s largest motorcycle dealership operator, MotorCycle Holdings (ASX:MTO), has expanded its Australian footprint by completing its acquisitions of Canberra MotorCycle Centre and Melbourne Northside Harley-Davidson.

Canberra Motorcycle Centre has an annual turnover of approximately $22 million (2019), employs 44 staff and sells around 1300 new and used motorcycles per annum.

Northside Harley-Davidson has an annual turnover of approximately $9 million (2019), employs 14 staff and sells around 200 new and used motorcycles per annum.

The company expects both acquisitions to be earnings accretive in the 2019 to 2020 financial year.

Shares in MotorCycle Holdings (ASX:MTO) closed flat at $2.32 yesterday.
Copyright 2019 – Finance News Network


Source: Finance News Network

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