Autobarn owner Bapcor Ltd announced the sale of its TRS Tyre and Wheel business to Trelleborg Wheel Systems.

TRS is the “largest distributor of Agricultural tyres and wheels in NZ”, according to its website, distributing of tyres for agricultural, materials handling and construction vehicles in New Zealand and specialising in tyres and complete wheels for tyre and tractor dealers.

Annual sales are approximately NZ$27 million.

Bapcor will reinvest the proceeds in its core business in the “automotive aftermarket in trade, specialist wholesale, retail and service,” according to a media release.

Darryl Abotomey, Bapcor’s CEO and managing director, thanked TRS’s dedicated staff for their support.

“TRS is a solid, well performing business,” said Abotomey.

“However the opportunity was presented to us to divest TRS and enable it to become part of an international group that focuses on engineered polymer solutions.

“We believe they have an exciting future as part of the Trelleborg group.”

Trelleborg Wheel Systems is a subsidiary of Swedish listed Trelleborg AB.