SAN DIEGO, Calif. (BRAIN) — The ASG Group has acquired Southern California mountain bike brand Ellsworth.
"ASG have been distributing Ellsworth mountain bikes in South Africa for a couple of years now," said Heinrich Dannhauser, the group CEO of ASG. "From the outset, we've been impressed by the quality, craftsmanship and performance of Ellsworth products, especially with the latest models. The acquisition reflects our effective diversification strategy across the cycling industry, and with the deal concluded we will now concentrate our efforts on building upon the heritage that the Ellsworth brand has already built in the United States, South Africa and Europe."
Tony Ellsworth, founder of Ellsworth in 1991, will stay on with the company as head of design.
Claudio Fantin, the international marketing strategist of the ASG Group, said, "The Ellsworth brand has enormous potential and is ... simply beautiful! We are ready and excited to take on this new challenge because the Ellsworth brand fits our corporate DNA perfectly — never stop having fun, never stop innovating, never stop breaking the rules."
ASG said it will invest in the development of a range of Ellsworth lifestyle products and apparel to complement the bike brand.
Mike Chapman will take over the reins as CEO and Ellsworth will operate from a new facility in San Diego as a subsidiary of ASG North America. ASG will also distribute other house brands from this location, including SCICON, a bike bag brand.
