PARSIPPANY, N.J. (BRAIN) — Kent International purchased Stoneridge Cycle on Tuesday. Stoneridge distributes its bicycles through leading Canadian retailers and the company will remain headquartered in Canada. According to Kent, the acquisition allows the two companies to achieve greater cost efficiencies and target new markets.
“Kent International has a long tradition of partnering with Stoneridge Cycle on many brands. We have seen their business thrive and are intrigued by the possibilities for achieving greater scale and cost efficiency by working more closely with one another,” said Scott Kamler, Kent International’s president.
Stoneridge Cycle, based in Ontario, Canada, is a supplier of bicycles and bike accessories to the Canadian market. The company began by launching the Wee Ride front mount child carrier for bikes and later expanded to a full line of bicycles and bike accessories.
“Stoneridge Cycle is dedicated to providing safe, creative and affordable bicycles to the Canadian market,” said Randy Johnson, Stoneridge Cycle’s president. “Kent has worked closely with and been a mentor for Stoneridge Cycle from its inception and we share a common vision of offering great bicycles at affordable prices for children and adults.”
This acquisition follows the opening of Kent International's bike factory in Manning, South Carolina, where production of BCA (Bicycle Corporation of America)-branded bikes began Oct. 15. There are already plans to supply bikes to Canada starting in May 2015.
