• Acquisition of select business assets of Peter Stevens Motorcycles and Harley Heaven
• Expands MTO's national dealer network to 15 locations across 4 states
• Strengthens MTO's digital retail capabilities through acquired online businesses

MotorCycle Holdings Limited (MTO) has announced that it has entered into a binding agreement to acquire select business assets of Peter Stevens Motorcycles Pty Ltd and Harley Heaven Pty Ltd (both in administration). Peter Stevens and Harley Heaven is one of Australia's most established and prominent motorcycle retail groups, founded in 1970 and with a national network of 15 dealership locations across Victoria, South Australia, New South Wales, and Western Australia. MTO will acquire a targeted portfolio of brand assets at 7 operating sites, including Harley-Heaven stores in Adelaide, Perth, Penrith, and Sydney, as well as Peter Stevens Motorcycles stores in Adelaide and Dandenong. MTO will also acquire the branded assets of the Harley Heaven Western Sydney store, which it plans to amalgamate into its broader Harley Heaven group network. The transaction is structured as an asset purchase and includes the rights to the Peter Stevens Motorcycles and Harley-Heaven brands, as well as the online businesses of both, further strengthening MTO's digital retail capabilities. The cash price of the acquisition is expected to be in the range of $7 million to $9 million, subject to customary completion adjustments, and will be funded through cash reserves and bailment facilities. The acquisition is expected to be earnings accretive for MTO and will allow the company to enter the key markets of Perth and Adelaide, protect the integrity of the acquired brands, and consolidate its market leadership position.

Following the acquisition, it is expected that MTO's sales will represent approximately 20% of national sales based on FCAI reported new unit sales to 31 March 2025.