Mergers, Acquisitions & Investments
BERKELEY, CA (BRAIN)—Backroads has acquired Boston, Massachusetts-based Bike Rider Tours—a provider of biking, walking and culinary tours highlighting the unique characteristics of some of the world’s most picturesque regions.
BETHEL, CT (BRAIN)—Cycling Sports Group (CSG) has acquired the assets of Sydney-based Gemini Bicycles for US $2.2 million.
MONTREAL, Quebec (BRAIN)—Dorel Industries purchase of Iron Horse Bicycle Company for $5.2 million "brings depth to our mountain bike offerings," according to Robert Baird, president of Dorel's Recreational/Leisure segment.
Dorel already owns Cannondale, GT, Mongoose and Schwinn brands.
BOULDER, CO (BRAIN)—Gruppo Bici N.A. has acquired Italian bicycle brands Galmozzi and Lygie from Atala S.p.A. The company also plans a series of reproduction frameset classics under its Atala, Cicli Italia, Galmozzi, Lygie, Maino and Umberto Dei brands. Terms of the acquisition were not disclosed.
HELSINKI, Finland (BRIAN)—Accell Group NV has agreed to acquire all the shares in Raul Hellberg Oy and affiliated companies (‘Hellberg’). Hellberg is active in the market for bicycles, bicycle parts and accessories and has its head offices in Helsinki, Finland.
GOLDEN, CO (BRAIN)—Wayne Lumpkin, founder of Avid, has acquired majority interest in Spot Brand, manufacturer of mountain, cyclocross and commuter bikes and integrator and distributor of Gates Carbon Drive belt systems through CD Enterprises. Terms of the deal were not disclosed.
BOULDER, CO (BRAIN)—Gruppo Bici N.A. has acquired Canditalia S.r.l., a Milan, Italy-based company specializing in the design of bicycle accessories. Terms of the sale were not disclosed.
ROCHESTER, NY (BRAIN)—Terry Precision Cycling, a women's cycling company, has been acquired by former president and chief executive officer of the Vermont Teddy Bear Company, Elisabeth Robert.
HUNTINGTON BEACH, CA (BRAIN)—Saddle maker SDG USA’s Bicycle Division has been acquired by its former general manager Tyler Anspach for an undisclosed sum.
SAN DIEGO, CA (BRAIN)—Competitor Group has sold VeloGear for an unspecified amount to Midwest Cycling, which will now be called Midwest Velo as a result of the transaction.
GOLDEN, CO (BRAIN)—Feedback Sports has acquired Ultimate Bike Support, the bicycle division of Ultimate Holdings, Inc. of Fort Collins, Colorado.
BEAVERTON, OR (BRAIN)—Yakima Products has acquired RackandRoll, a manufacturer of high performance multi-sport trailers based in Frederick, Maryland.
VISTA, CA (BRAIN)—Zoot Sports has been acquired by K2 Sports. Terms of the acquisition were not disclosed.