News

BOULDER, Colo. (BRAIN) — Outside, the fast-growing media company that is parent to Bicycle Retailer and an array of outdoor sports media titles, is bolstering its presence in cycling by announcing the acquisition of Canada-based Pinkbike; Pinkbike's mountain bike mapping app, TrailForks; and CyclingTips, which Pinkbike acquired in 2019.

BRESCIA, Italy (BRAIN) — Italian consumer-direct cycling apparel brand La Passione has raised 7 million euros ($8.3 million) from a group of investors, including some of its existing investors, new investment funds and "business angels." The amount will be invested over four years.

EVERETT, Wash. (BRAIN) — Like all bike companies, Rad Power has struggled to deliver enough bikes to meet demand for the last year and a half. But the Seattle-based consumer-direct powerhouse recently trimmed weeks off the transit time for its e-bikes by using an alternative seaport.

OSAKA, Japan (BRAIN) — An Asian news source is reporting that Shimano plans to invest $179 million to build a new plant in Singapore that will open next year.

MILAN, Italy (BRAIN) — Asobi Ventures Inc. acquired a majority share of Gruppo Srl, the parent company of bike brand Cinelli and tube manufacturer Columbus. The companies did not disclose transaction terms.

SAN FRANCISCO (BRAIN) — The sales surge during the pandemic had more than a few shop owners thinking, “Maybe it’s time to sell.” Low inventory, plenty of cash, over a year of working too hard, retirement age looming if not already here … what better time to sell?