Hellaby buys Sydney-based Ryde Batteries for about A$12 mln to boost largest unit

Mon, 30 Sep 2013

By Tina Morrison Oct. 1 (BusinessDesk) – Hellaby Holdings, the diversified investment company, has acquired Sydney-based Ryde Batteries in a deal valued at $12 million to bolster its automotive division. The purchase settled yesterday and the Australian wholesale automotive and special purpose battery company will add to earnings per share this financial year, the Auckland-based company said in a statement. Ryde, which trades as Federal Batteries, distributes nationally in Australia and is complementary to Hellaby’s New Zealand battery dist...

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