In July 2002, CVC Funds completed the acquisition of Halfords, the UK’s largest retailer of cycles, car parts and accessories. Since December 2008, Halfords has operated over 450 sites in the UK, Ireland, Czech Republic and Poland.
The company has sought in recent years to expand its operations into Eastern European countries where people typically own cars for longer periods of time and carry out maintenance themselves.
Halfords has its own range of bicycles, ‘Apollo’. In recent years, Halfords has introduced its new superstore chain in out-of-town retail parks. This new format offers additional space, enabling product range extension and an improved in-store layout.
In June 2004, Halfords was subject to an IPO and was fully exited by CVC Funds in December 2006.