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MotorCycle Holding (ASX: MTO) is set to acquire Northside Harley Davidson in Brunswick, Victoria.
The dealership has an annual turnover of around $9 million and employs 14 staff to sell around 226 new and used motorcycles a year.
The transaction is scheduled to settle in October this year, provided due diligence, lease assignment and manufacturer approval are all signed off.
MotorCycle Holdings CEO David Ahmet says he is pleased that the company is able to acquire another Harley-Davidson dealership.
"Northside Harley-Davidson is a strong and successful Melbourne dealership and this acquisition enables us to enhance our business footprint and expand the dealership network in Victoria, providing further revenue growth opportunities and geographical diversification and strengthening the resilience of the company."
"For Northside Harley-Davidson customers and staff, Motorcycle Holdings brings additional financial strength to the dealership, and is committed to continuing to deliver excellent customer service and after sales service support."
Shares in MotorCycle Holdings are up 3.41 per cent to $1.82 per share at 4.10pm AEST.
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Business News Australia
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