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A.P. EAGERS Limited (ASX:APE) is set to acquire the motor trade operations of Craig Black Group for $35 million, subject to regulatory approvals.
The company turns over about $245 million each year, selling 4,100 vehicles and employing 280 staff members.
Craig Black started the company in 1983 with his wife Anne and has agreed to stay on as a consultant.
The business’ headquarters is in Dalby, with Toyota, Hyundai and Mitsubishi dealerships located around South West and Central Queensland.
The acquisition is expected to be completed in August.
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