Boots, Britain's largest pharmacy, health and beauty retailer, has finally succeeded in unloading its unwanted Halfords unit for a sum in excess of £350 million ($551.91m; €552.35m).

The buyer, a low profile private equity group CVU Europe, enjoys a bargain-basement price – up to £100m less than expected – thanks to the 28% plummet in stock values since Boots announced the intended ‘demerger’ on April 17.

Halfords, with around four hundred auto parts and bicycle outlets, posted profits of £54m in the year to March 31.

Data sourced from: Financial Times; additional content by WARC staff