Source: Supplied.

MotorCycle Holdings has confirmed the acquisition of leading accessories wholesaler and retailer, Cassons.

The agreement will see the ASX-listed motorcycle dealership company purchase 100 percent shares in Cassons for $123.2-million.

In a move that is expected to increase MotorCycle Holdings’ annual revenues by approximately 30 percent to $310-million, it’s anticipated the company’s EBITDA will rise to around $30-million.

MotorCycle Holdings, listed on the ASX in April 2016, will pay $98.7-million in cash and $24.5-million in shares for the acquisition, which includes eight Motorcycle Accessories Supermarket stores and the online distributions.

Cassons principals John and Rob Cassen will hold senior executive positions within MotorCycle Holdings, and the latter will also become a director.

The MotorCycle Holdings business was founded in 1989 by current CEO and managing director David Ahmet, now Australia’s largest operator of motorcycle dealerships with 27 locations on the eastern seaboard.