Buyers of Peter Stevens Motorcycles and Harley Hea...

Peter Stevens Bikes

The Directors of Peter Stevens Bikes have introduced that almost all of the corporate’s
retail community will probably be acquired by new house owners after a brisk and aggressive sale course of.

The Joe Rascal Group, led by James Tonna and Barry Fitzpatrick, will purchase 4 Victorian Harley Heaven and Peter Stevens Ducati Shops:

• Harley Heaven Dandenong
• Harley Heaven Ringwood
• Harley Heaven Melbourne
• Peter Stevens Ducati South Melbourne.

“Joe Rascal Group is thrilled to have the ability to purchase these shops and companion with iconic manufacturers Harley-Davidson and Ducati. These shops have a robust status for high quality and customer support, and we’re excited to construct on that basis. We stay up for integrating their experience and choices into our operations, and we’re assured that this acquisition will drive vital development and innovation for us within the years to return,” Mr Tonna mentioned.

ASX-listed Bike Holdings Ltd (ASX:MTO) will purchase seven Peter Stevens and Harley Heaven retailers round Australia:

• Peter Stevens Dandenong
• Peter Stevens Adelaide
• Savage Bikes Perth
• Harley Heaven Sydney
• Harley Heaven Penrith
• Harley Heaven Perth
• Harley Heaven Adelaide

Bike Holdings Ltd CEO Matthew Wiesner mentioned the corporate would keep the Peter Stevens and Harley Heaven manufacturers available in the market, constructing on their well-established reputations for customer support and experience.

“We intend to proceed rising the Peter Stevens and Harley Heaven manufacturers in these strategic areas and ship for his or her many loyal clients. These new shops will profit from our scale of operations, notably in relation to buying, provider relationships and from the help our company groups can present,” he mentioned.

KordaMentha’s Craig Shepard mentioned the Directors had been “happy to have discovered two extremely
credentialed purchasers within the Joe Rascal Group and Bike Holdings Ltd, guaranteeing the Peter Stevens and Harley Heaven manufacturers can proceed and supply ongoing employment for round 250 staff.”

Whereas there are a number of situations precedent to be met earlier than the gross sales could be finalised, together with acquiring regulatory approvals from motor supplier licensing authorities in every state, all events are working in direction of completion by mid-July.

Sadly, Peter Stevens Bikes shops in Geelong, Ringwood and Bankstown, the Harley Heaven Bankstown and Melbourne Metropolis Triumph retailer must be closed by the Directors as no affords had been obtained. The Directors will help staff from these areas throughout the transition to closure.