WA’s COV’s Parts For Sale?

WA’s COVS For Sale?

As this issue was being prepared, various media outlets were claiming that WA’s COVS is for sale and that Burson Auto Parts are interested. Burson do not have a WA “footprint” at this time.
The owners of WA’s Cov’s Parts have tried to cool recent media speculation regarding the possible sale of its Covs Parts stores in Western Australia.

“As previously stated by the company, AHG has a clear strategy of continuing to deliver long term stable earnings growth in its Automotive and Logistics businesses through the expansion of existing operations, establishment of new facilities and targeted strategic acquisitions and divestments. The company continues to review its portfolio of assets in line with this strategy.”

AHG Managing Director Mr Bronte Howson said, “The Covs chain of retail stores is a strategic asset
in the West Australian retail auto parts market.

“We have been approached by prospective buyers of the Covs retail stores but at this time we have
not concluded any sale. If we do sell the business an announcement will be made in line with
relevant market disclosure obligations,” he said.
For those in other States who may not know about the company, Covs (formerly Coventrys) are a major auto parts, tools, equipment and consumables distribution company that has been servicing the automotive, mining and industrial sectors in Western Australia since 1929.
In July 2011, Automotive Holdings Group (AHG) acquired the Coventrys automotive parts business and formed the new company Covs Parts Pty Ltd. Covs employs over 400 and has 25 branch locations across the state. AHG paid $29 million for Covs in 2011.
Burson Automotive CEO Darryl Abotomey told us that he would not confirm that Burson were looking into purchasing COV’s but did say at this time that they do not have a WA footprint.