SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory Holding Corp. has closed on the previously announced acquisition of the assets of Marzocchi's mountain bike product lines.
"We are very pleased to have completed the acquisition and are excited to begin integrating Marzocchi mountain bike product lines into our legacy mountain bike product mix," said Larry L. Enterline, Fox's CEO. "This fits squarely into our strategic plan to further expand the penetration of our bike suspension products across more price points. When coupled with our existing legacy bike business, the Marzocchi product line will help drive improved sales and profitability over the long-term."
Marzocchi's parent company, Tenneco, announced in July that it was shutting down the brand. During a conference call earlier this month, Fox executives said its would buy assets including intellectual property, inventory and testing machines. Fox plans to move Marzocchi's operations from Italy to Taichung, Taiwan.
