Industry News
DURHAM, N.C. (BRAIN) — A U.S. bankruptcy judge has approved Advanced Sports Enterprises' motion to cancel its licensing and manufacturing contracts with Ideal Bike Corporation, a Taiwan-based manufacturer that has been a backer and manufacturer for ASE and its ASI division.
WASHINGTON (BRAIN) — PeopleForBikes and the Bicycle Product Suppliers Association have submitted requests on the industry's behalf for exemption from the 25 percent tariff on Chinese-made e-bikes that took effect last summer. The deadline was Thursday for submitting the requests to the U.S. Trade Representative.
HELSINKI (BRAIN) — The investor group acquiring Amer Sports has begun to buy up the company's outstanding and issued shares through a voluntary recommended public cash tender.
KENT, Wash. (BRAIN) — The CEO of Accell North America says he is feeling "very good" about where the business is and he's expecting a lot of improvement in 2019.
MADISON, Wis. — Almost three decades after acquiring Graber Products and renaming it Saris, co-founder Chris Fortune is stepping down as president and handing the reins to COO Jeff Frehner. Fortune becomes Saris’ CEO effective Jan. 1, 2019.
STOCKHOLM (BRAIN) — Thule Group announced this week that it has acquired car rooftop tent maker Tepui Outdoors Inc. for $9.5 million.
DURHAM, N.C. (BRAIN) — Advanced Sports Enterprises wants to end its licensing agreement with Specialized for the Roubaix trademark. The bankrupt company also is asking the court for permission to abandon inventory worth about a third of a million dollars wholesale, currently held by a broker.
LONDON (BRAIN) — U.K. online retailer Chain Reaction Cycles has announced on its website that it will stop selling Shimano products into North America on Jan. 1.
LONG BEACH, Calif. (BRAIN) — The online cycling platform Zwift has secured a $120 million Series B investment. The company, which started with a gaming-style virtual riding experience, has expanded into a running game and non-gaming indoor training options.
HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. said it is considering selling its North American business, Accell North America, or right-sizing it down to a profitable size.
HELSINKI (BRAIN) — The board of directors for Amer Sports has issued a statement in support of a bid by an investor group to buy the company's outstanding shares. Amer is the parent company of Mavic and Enve as well as an array of other sports brands.
The investor group is led by China's Anta Sports.
BOCA RATON, Fla. (BRAIN) — Split Peak LLC, a private investment firm, has acquired Clean Designs, LLC, the parent company of Clean Bottle.
Clean Bottle was launched in 2010 with a guerrilla marketing campaign at that summer's Tour de France and later appeared on the ABC series "Shark Tank."
SAN MATEO, Calif. (BRAIN) — GoPro Inc. plans to move most of its U.S.-bound camera production out of China by next summer to mitigate the potential impact of new tariff lists. Production of cameras bound for non-U.S. markets will remain in China.
COLUMBUS, Ohio (BRAIN) — Gov. John Kasich has signed a bill making Ohio the 11th state with an e-bike law supported by the industry.
LONDON (BRAIN) —The parent company of Rapha has filed an audited financial statement showing an operating loss of nearly 20 million pounds ($25 million) last year. The loss was due to exceptional administrative expenses incurred following the brand's acquisition in 2017; the company's gross profit was nearly 18 million pounds.
DURHAM, N.C. (BRAIN) — A bankruptcy judge has ruled that Advanced Sports Enterprises can hold store closing sales at 102 Performance Bicycle locations. The court also pushed back the auction of ASE's assets to mid-January. The auction had originally been scheduled for Dec. 18.
HELSINKI (BRAIN) — Private equity investor consortium Mascot Bidco Oy has made a cash offer to purchase all issued and outstanding shares of Amer Sports Corp., currently valued at 4.6 billion euros (about $5.2 billion). This excludes shares held by Amer Sports or its subsidiaries.
MARIN, Calif. (BRAIN) — The Marin Municipal Water District will hold a public workshop next week regarding e-bike use in the watershed the agency manages on Mt. Tamalpais, widely regarded as the birthplace of mountain biking, and a local retailer is urging e-bike riders and supporters to participate in and speak at the forum.
SAN JUAN CAPISTRANO, Calif. (BRAIN) — Emerald Expositions has canceled the 2019 edition of the Interbike trade show, saying the event might return in a more modest format in 2020.
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