Shares in cleaning products and appliance manufacturer and distributor GUD Holdings Limited (ASX: GUD) are up 0.6% to $13.48 at the time of writing after news yesterday the company would acquire Disc Brakes Australia Pty Ltd.
Disc Brakes supplies products to the automotive aftermarket, with more than 40 years in the industry and a customer base including Bapcor Ltd (ASX: BAP) and Super Retail Group Ltd’s (ASX: SUL) Supercheap Auto with an annual turnover of $20 million.
The transaction is expected to be complete by early July, with GUD taking 100% of Disc Brake shares.
The move will strengthen GUD’s automotive portfolio after an automotive business overview released in May detailed 52% of GUD’s automotive segment sales were via non-internal combustion engine applications while the company recognised upcoming trends in the space would move towards online purchasing of parts and accessories.
GUD also recently made a small investment in Liftango – a start-up ride-sharing program for large corporate customers for “bus-on-demand” services for employees.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia owns shares of Super Retail Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.