ARB's (ASX:ARB) US-based associate ORW USA entered a conditional asset purchase agreement to acquire 4 Wheels Parts (4WP) from Hoonigan for around $30 million, according to a Monday filing to the Australian bourse.

4WP operates 42 retail stores and associated e-comm sites selling 4x4 accessories in the US, the filing stated.

The agreement is subject to court approval in conjunction with Hoonigan's court-supervised reorganization in the US and, should the acquisition proceed, ARB will increase its shareholding in ORW to 50% from 30%, according to the filing.

ARB will separately acquire the Poison Spyder brand for $1 million, subject to the same court approval, the filing stated.