Struggling bicycle and car parts retailer Halfords has appointed former Pets at Home boss Matt Davies as its new chief executive.

Halfords hopes he can build sales and profits as he did at Pets at Home. 

His appointment is likely to be welcomed in the City due to his track record at Pets at Home, where he built sales and profits ahead of the company's £995m sale to private equity group KKR in 2010.

Dennis Millard, Halfords' chairman, said: "The board is delighted to have recruited such a high–calibre leader as Matt. He has many years of retail experience, impeccable service credentials and the energy and ability to drive Halfords forward."

Matt Davies joined Pets at Home as finance director in August 2001 before taking the top job in March 2004. He twice helped sell the company, first to UK private equity house Bridgepoint and later to KKR.