WEST DES MOINES, Iowa (BRAIN) — Erik's Bike Shop, which has more than two dozen locations across the Upper Midwest, expects to have its first location in Iowa soon, with an agreement to buy Rasmussen Bicycle Shop in West Des Moines. The transaction is expected to be finalized on May 9.
Headquartered in Bloomington, Minnesota, Erik's other locations are in Minnesota, Kansas, Illinois, and Wisconsin. Erik Saltvold founded the business in his parents' barn in 1977 when he was only 13.
In a statement released by Erik's, Greg Rasmussen said, "After 44 years of being a family business in West Des Moines, Iowa, Rasmussen Bike Shop will be changing ownership. My family and I am excited for this transition in my life and working with Erik and his team has been great. I am super confident in the transition, employees are on board, and we are comfortable that the commitment to family and fun that Rassy's has been known for will be taken to the next level as Erik's transitions the store."
Through the 2018 cycling season, Rasmussen Bicycle Shop will continue to operate under the same name and with the same staff and management. Greg Rasmussen will assist in the transition.
"Rest assured, we will continue with what has made Rassy's a great shop and a great friend to the cycling community. We aren't going to mess with that!" Erik's announced.
The company said it expects to close for two days for inventory after the purchase, but will maintain repair services during that time. The store will continue to honor club and team discount programs and regular group rides will continue.
