- Motorcycle Holdings will acquire Canberra Motorcycle Centre to expands its operations in Canberra
- The transaction is expected to settle September 2019
- The business has an annual turnover of approximately $22 million
Motorcycle Holdings will acquire Canberra Motorcycle Centre to expands its operations in Canberra.
Canberra Motorcycle Centre is the largest dealership in the ACT region and has been running for over 30 years.
The transaction is expected to settle September 2019.
The Canberra Motorcycle represents nine motorcycle brands such as Yamaha, Honda, Kawasaki, Suzuki, KTM, Ducati, Can-Am, Indian & Royal Enfield, and one PWC brand: Sea-Doo.
The business has an annual turnover of approximately $22 million.
Motorcycle Holdings is Australia’s leading motorcycle dealership and accessories group.
It has 48 franchises operated from 31 dealership and 8 retail accessory locations in Queensland, New South Wales, Victoria and the Australian Capital Territory.
MotorCycle Holdings Chief Executive Officer Mr David Ahmet said he was delighted that the company is able to acquire the Canberra store
“Canberra Motorcycles is a well established dealership with a strong reputation in the ACT and this acquisition provides further geographical diversification for the company in the dealership market,” he said.
The company will bring stability and financial strength to the Canberra store.
“Motorcycle Holdings also is the support required to continue to deliver quality customer experience and excellent after sales service support,” David added.
For the transaction to go through the companies are currently working on due diligence, lease documentation and manufacture approval.
Land and buildings are not included in the transaction.
Motorcycling Holdings has dropped 2.80 per cent and is currently selling at $1.30 per share.