SYDNEY, AUSTRALIA: GUD Holdings has entered into an agreement to acquire AutoPacific Group (APG), for total consideration of approximately $744.6 million.
GUD’s acquisition of AutoPacific Group (APG) will see the Group make a meaningful step towards its vision of becoming an integrated leader in 4WD Accessories and Trailering in Australia and New Zealand (ANZ) with future export potential.
The transaction is expected to complete in January 2022 and is subject to limited conditions. APG will make a positive contribution to the Group’s earnings.
Commenting on the acquisition, Mr Graeme Whickman, GUD Managing Director and Chief Executive Officer, said, “4WD accessories and trailering is a cornerstone of GUD’s automotive vision. This acquisition represents the culmination of management and the Board’s work in creating GUD’s Portfolio Vision.
We are excited by the opportunity for GUD to expand its existing 4WD and Commercial Vehicle businesses with complementary products, customers, and capabilities.
APG is an industry leading designer, manufacturer and distributor of high-quality, engineered and functional automotive and lifestyle accessories that are suitable for all combustion and electric vehicle applications”.
Jason Kieseker, Chief Executive Officer of APG, commented, “APG represents a portfolio of market leading brands and has longstanding customer relationships across diverse channels.
With innovation at the heart of what we do, we see GUD as a natural fit for APG and we look forward to leveraging the synergistic opportunities that joining with GUD presents.”
GUD Chairman, Graeme Billings, commented, “The combination of GUD’s existing businesses and APG, firmly establishes GUD as a leader in 4WD accessories and trailering in Australia and New Zealand. We see ourselves as the natural owner of the APG business and welcome Jason Kieseker and his team to GUD”.
GUD Holdings Limited owns a portfolio of companies in the automotive aftermarket and water products sectors. www.gud.com.au