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GIANT auto parts listed company Bapcor Ltd has expanded to 836 outlets after this week buying five Australian-based Japanese commercial truck spare parts businesses.

The five companies – Don Kyatt Spare Parts, He Knows Truck Parts, I Know Truck Parts, HIM Spares and Japanese Commercial Spares – operate from 10 locations in Queensland, New South Wales, Victoria and South Australia.

The companies, which run as a coordinated business, were purchased for an undisclosed sum with the transaction expected to be finalised early this month.

Bapcor owns retail, wholesale, trade and service outlets in Australia (now 836 outlets), New Zealand (106) and, from this year, Thailand (two outlets).

Bapcor operates under brand names including Midas, Burson, Autopro, BNT, ABS, Autobarn, Opposite Lock, Baxters, Federal Batteries and AAD.

Last financial year it reported revenue of $1.23 billion, up 22 per cent on the previous financial year, and net profit after tax of $86.5 million, up 32 per cent on 2017.

Its NZ operations jumped 104 per cent in revenue to $177.9 million and Bapcor said it planned to take trade store numbers in that country to 25 – from the current five – within five years. It has a total of 106 trade, retail and service stores in NZ.

It added Thailand to its international spread in August this year with its first store, then opened a second in the country in October.

The acquisition of the five truck parts businesses was “consistent with Bapcor’s stated strategic direction” said its managing director and CEO, Darryl Abotomey in a report to the Australian Securities Exchange.

“This commercial truck group is an excellent fit as a specialist business and will provide further opportunities for consolidation and organic expansion,” he said.

“The growing prevalence of smaller commercial trucks in the Australian market will provide the group with further expansion opportunities.

“The earnings from the acquisition in the remaining period of the 2019 financial year are expected to more than offset the full year earnings of the (truck parts) businesses which was divested on July 1, 2018.”

By Neil Dowling

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