Bapcor Announces Expansion In Asia Through Agreement to Acquire 25% Of The Issued Equity Of Tye Soon Limited

Bapcor Ltd is pleased to announce that it has signed agreements to acquire 25% of the issued equity of Tye Soon Limited, a company listed on the Singapore Securities Exchange.

Tye Soon was established in 1933 and is the most prominent independent automotive parts distributor in South East and North East Asia, distributing a wide range of genuine parts and aftermarket parts. The group’s main markets are served by its operations in Singapore, Malaysia, Thailand, Hong Kong, South Korea and Australia. Partnering with its principal suppliers from Europe, Japan and Korea, the group has one of the largest portfolios of top-tier global brands of automotive parts.

Tye Soon’s annual revenue is c. SGD 200 million across;

•  Malaysia $43m 15 locations
•  South Korea $43m 20 Locations
•  Australia $42m 20 locations
•  Singapore $19m 2 location
•  Thailand $13m 1 location ? Other countries $40m

Bapcor CEO & MD Tenure Extended The Board of Bapcor Limited is pleased to announce that Darryl Abotomey, Chief Executive Officer and Managing Director has agreed to extend his tenure to 31 October 2023.

Darryl has been CEO and Managing Director of Bapcor since September 2011.

Bapcor’s Chair, Margie Haseltine said “We are delighted that Darryl is extending his leadership of Bapcor through to October 2023. Under Darryl’s guidance Bapcor has been one of the top performing ASX listed companies since it listed in April 2014, going from strength to strength, year after year. Bapcor has a clear 5-year strategic plan including specific targets, with many of the projects underway and which will be brought to fruition during Darryl’s remaining tenure.”