CAR parts and bicycle accessories chain Halfords is to be sold by Boots for £410m, it was announced yesterday.
Private equity group CVC Capital Partners will pick up 400 Halfords stores and its head office in Redditch as part of the agreement.
The sale is expected to be completed by the end of August and is subject to European Commission approval.
Boots, which acquired Halfords in 1989, said the terms of the deal meant a further £17m could be paid on achieving certain sales targets.
Most the proceeds from the deal are likely to be returned to shareholders, it said.
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