Halfords

A Halfords in Kirkstall, Leeds (2006)

The company was founded by Frederick Rushbrooke, in Birmingham in 1892, as a wholesale ironmongery.[4] Rushbrooke moved to a new store on Halford Street in Leicester, in 1902, and the company was named after this street, and started selling cycling goods.[4] It opened its two hundredth store in 1931, and purchased the Birmingham Bicycle Company in 1945.[4]

It opened its three hundredth store in 1968.[4] The company became a part of Burmah Oil in 1965, following a takeover battle between Burmah and Smiths Industries.[4]

During this time, Denis Thatcher, husband of the future Prime Minister Margaret Thatcher, was a non executive director. The company was acquired by the Ward White Group in 1983,[4] and subsequently acquired by the Boots Group in 1989, whom demerged from the company in April 2002.[5][4]

Openings for Halfords in Colne, as well as Great Mills, were planned by February 1997, but never happened for unknown reasons.[6]

It was then taken over by CVC Capital Partners in July 2003,[4] and in June 2004, it was floated on the London Stock Exchange.[4] Halfords dropped the blue, white and red branding in February 2003, in favour of a new, black and orange logo. However, the 'new' logo had been used since the previous year, but it did not come into effect until 2003.[7]

Halfords entered into a Collaboration Agreement with Autobacs Seven Co. on 11 July 2005,[8] a Japan based car accessory retailer with chains of stores all over the world and who is best known in other countries that do not have an Autobacs store for being the title sponsorship of Super GT and D1 Grand Prix.[9]

Autobacs acquired 5% (11,400,000 shares) of the company on 13 December 2005, at approximately ¥7.5 billion.[10]

Halfords opened its first shop in Central Europe in June 2007, in a village near Prague. In the next two years, it opened five more stores in the Czech Republic and one in Poland (Wrocław, 2008). Expansion into Central Europe was seen as an opportunity, because the cars on the road tend to be slightly older there, so people would be more adept at car maintenance.[11]

However, in March 2010, it terminated these activities already, after the losses made in the initial years were deemed too high, and a new management wanted to focus on the domestic market.[12]

The company announced a new deal, to purchase the chain Nationwide Autocentre MOT on 18 February 2010, from the private equity firm, Phoenix. The plan was to rebrand the centres under the name Halfords, and open another two hundred. As of February 2021, there are over 250 garages branded Halfords Autocentre, dealing with MOTs, car repairs and servicing.[13]

In June 2014, Halfords acquired the British bicycle manufacturer Boardman Bikes Ltd. (founded by the professional cyclist Chris Boardman, Sarah Mooney and Alan Ingarfield) for undisclosed sum.[14][15] In March 2015, it was announced that on 11 May 2015, Jill McDonald, head of McDonald's UK since September 2010, would replace Matt Davies (who was leaving to join Tesco), as CEO.[16]

Halfords acquired Swansea based Tredz Bikes, an online retailer of premium bikes and cycling accessories, and Wheelies, the largest provider of bicycle replacement for insurance companies in the United Kingdom, for £18.4m, from founders Keith and Michael Jones, on 24 May 2016. The group turned over around £32m, in the year to 29 February 2016, making a profit, before financial charges of £2.4m.[17]

Halfords announced on 3 May 2017 that Jill McDonald, CEO, had resigned from the business, to take up the position of Managing Director: Clothing, Home & Beauty at Marks & Spencer. She remained as CEO of Halfords until the end of her notice period, in October 2017.[18] Halfords made an announcement on 13 September 2017, that executive of Dixons Carphone, Graham Stapleton, would be its new CEO, with effect from January 2018.[19]

Since 2010, Halfords Retail has operated around 465 stores, of which about twenty two are in the Republic of Ireland, and the others in the United Kingdom.[20]

In 1987, Halfords sponsored the team of Professional Road Cycling, ANC Halfords, and that year, entered the Tour de France. However, the team ran out of money, at the end of the season, and officially disbanded.

The team won the overall BTCC Drivers Championship, in 2005 and 2006, with driver Matt Neal.[21] In March 2007, Halfords sponsored the Team Dynamics BTCC racing team, under the name of Team Halfords,[22] and in January 2008, Halfords started sponsoring a mixed professional bike team, Team Halfords Bikehut, headed by Nicole Cooke.[23]

In November 2014, Halfords announced it was going to revive its Cycle Republic chain of specialist bicycle stores, primarily focused on urban cycling and commuting, which is reflected in the brand's styling.[24] The first store was opened in London, on 12 December 2014.[25] The company's shop estate twenty two shops,[26] and an ecommerce website operation offering an extended product range, as well as financing options.[27]

The company's flagship store in Canary Wharf was opened by Olympian, Victoria Pendleton, in January 2018.[28]

Cycle Republic sponsored the racing team, Morvélo Basso, for 2018.[29] The company also provides event support at cyclo sportives around the country, including Etape Loch Ness, Palace2Palace and Velo Birmingham.[30] The company announced a new, strategic partnership with the folding bike manufacturer Brompton, in the end of 2018.[31]

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• Official website