Halfords has announced the acquisition of Tredz and Wheelies Direct. Tredz is an online retailer of premium bicycles and cycling parts, accessories and clothing that sell across the U.K. under the Tredz brand. Wheelies Direct is the U.K.'s largest provider of bicycle replacement for insurance companies. The two businesses collectively generated revenues of around £32 million (€42.0m-$46.8m) for the year ended Feb. 29, 2016, up from about £24 million (€31.5m-$35.1m) in the prior year, and an annual profit of £2.4 million (€3.1m-$3.5m). Halfords has paid £18.4 million (€24.1m-$26.9m) in cash from its existing borrowing facilities, and will pay more depending on Tredz' profits in the year ending Feb. 28, 2017. The businesses will continue to trade under the current names on a stand-alone basis, and will continue to be led by the existing management teams.

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