Bapcor a front runner in Kmart Tyre & Auto acquisition
The $1.8 billion automotive parts group, Bapcor is a front-runner to acquire Kmart Tyre & Auto from Westfarmers according to an article in today's AFR. Kmart Tyre & Auto, which operates 250 outlets, is expected to fetch approximately $300 million. According to Bapcor CEO Darryl Abotomey, the business is approaching the opportunity from a clinical viewpoint. Another potential buyer for Kmart Tyre & Auto is GPC Asia Pacific, the parent company of Repco. The AFR reported on 3 July that 3 bids were due for the retailer by end-July.