NTAW Holdings Limited (ASX: NTD) has completed the previously announced sale of the assets required to operate the retail business of Black Rubber Pty Ltd (BR) in Perth and Port Hedland, Western Australia, to Get A Grip Tyres Pty Ltd (GAGT).
The consideration received on completion was $3.3 million, including GST and after adjusting for the leave entitlements of transferring employees. Property leases were assigned to GAGT as part of the transaction, according to the announcement dated 31 August 2026.
This marks the completion of a previously flagged divestment rather than a new proposal, closing out the disposal of NTD’s Black Rubber retail operations across the two Western Australian locations.
NTD’s July 2026 divestment announcement outlined the original terms of the Black Rubber WA sale, including a separate exit from its 50% Tyrelife Solutions stake and the conditions that remained outstanding at signing, such as landlord consents and Michelin’s release of Black Rubber from its Kewdale obligations.
What the transaction covers
The sale relates specifically to the assets required to operate Black Rubber’s retail business, not the entire company. The key terms disclosed by NTD are as follows:
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Buyer: Get A Grip Tyres Pty Ltd (GAGT) (ACN 104 023 145)
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Assets sold: those required to operate Black Rubber’s retail business in Perth and Port Hedland
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Consideration received on completion: $3.3 million (including GST, net of leave entitlement adjustments)
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Property leases: assigned to GAGT
| Item | Detail |
|---|---|
| Buyer | Get A Grip Tyres Pty Ltd (GAGT) |
| Locations | Perth and Port Hedland, Western Australia |
| Consideration | $3.3 million (incl. GST, net of leave adjustments) |
| Leases | Assigned to GAGT |
| Status | Completed |
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The retreading factory remains under discussion
One element of the broader arrangement remains open. GAGT, BR and Michelin continue to discuss ownership of the plant and equipment required to operate BR’s retreading factory in Perth.
Understanding tyre retail divestments — why this matters to investors
A completed asset sale, or divestment, occurs when a listed company exits a defined part of its business and receives cash in return. In this case, NTD has disposed of the assets required to run Black Rubber’s retail operations in two Western Australian locations, receiving $3.3 million on completion.
Divestments of this kind are typically used by companies to simplify their portfolio and free up capital, though the specific rationale and use of proceeds are matters for the company to disclose.
NTD’s wholesale reset was already generating measurable results heading into the second half of FY2026, with inventory reduced by $44.1 million, $13.7 million in debt repaid, and gross margin climbing to 30.3%, providing the financial backdrop against which management chose to accelerate the exit from capital-heavy retail operations.
What comes next
The disclosed status of the transaction and its outstanding element can be summarised as follows:
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Completion achieved, with $3.3 million consideration received
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Property leases transferred to GAGT
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Ongoing discussions between GAGT, BR and Michelin on the Perth retreading factory plant and equipment
The announcement was approved and authorised for release by NTD’s Managing Director. Further information is available through Mr Warwick Hay, Managing Director & Chief Executive Officer.
Company Statement
NTAW Holdings Limited (ASX: NTD) (“NTD”) is pleased to announce it has completed the previously announced sale of assets required to operate the retail business of Black Rubber Pty Ltd ACN 162 283 427 (“BR”) in Perth and Port Hedland, Western Australia to Get A Grip Tyres Pty Ltd ACN 104 023 145 (“GAGT”).
The divestment of Black Rubber’s Western Australian retail operations is now complete, with the ownership of the Perth retreading factory plant and equipment which remains under discussion.
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