SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory Holding has agreed to buy "certain assets" related to Marzocchi's mountain bike suspension product line. The company did not say what assets it will buy, but indicated that it will market the Marzocchi brand worldwide and use the brand to hit new price points.
Marzocchi's parent, Tenneco, had announced in July that it was shutting down the Marzocchi business. A Tenneco representative later told BRAIN that Tenneco was in talks to sell some Marzocchi assets, including intellectual property.
Fox said it expects to complete its purchase in the fourth quarter of this year.
"We are excited to announce the agreement to acquire certain assets of the Marzocchi mountain bike product lines, which we believe is a significant opportunity for Fox to further expand the penetration of our bike suspension products across more price points," said Larry L. Enterline, Fox's CEO.
"The Marzocchi team has a long history of performance suspension experience and we believe that this highly complementary transaction will allow for the increased growth of the Marzocchi brand worldwide. We expect this transaction will bring together and strengthen two highly complementary product lines and allow for Fox to leverage its marketing, engineering, distribution and supply chain resources to drive increased top-line growth and profitability."
Fox said it would release more details about the transaction when it releases its third-quarter earnings report early next month.
