Wiggle to buy Chain Reaction Cycles
Posted February 16, 2016 05:25PM by
Skye in the
Cycling Forum
5880115
Not sure how I feel about this... I really hope that by absorbing their main competition, we aren't going to miss out on price wars and deep discounts. On the other hand, maybe the new company will have even better websites, better distribution, etc. Sounds like Wiggle's revenue hasn't been growing as quickly the last few years, perhaps the popularity of cycling is topping out, or people simply aren't feeling the need to upgrade.
"Update: 12/02/2016 14:40pm Both companies have now confirmed that they are to merge. The transaction,which is subject to a number of regulatory approvals, including merger control clearance from the Competition and Markets Authority (CMA), will amount to a business with a combined revenue in excess of £300m" -- via BikeRadar: Wiggle to merge with Chain Reaction Cycles
“In the global online retailing market in which we operate, there is a compelling industrial logic for our two businesses to come together to become a stronger force,” said Wiggle CEO Stefan Barden, who joined the company in September 2013. “The combined business will offer all customers an extended range of brands and products, with Wiggle’s strength in tri-sports and road cycling complemented by Chain Reaction Cycles’ strength in mountain biking, BMX and road cycling too.
“The deal propels Wiggle faster towards its objective of building a global online champion and a major British export success story.”
“This is an exciting new chapter for the Chain Reaction Cycles brand,” added Chain Reaction Cycles’ managing director Chris Watson. “Since the business started in 1984, we’ve grown strongly from our mountain bike origins in Northern Ireland to meet the needs of more MTB, BMX and road cyclists across more countries. Coming together with Wiggle is a great way to continue that growth, as a global force in cycling and a leader in technology, e-commerce and innovation.” -- via CyclingTips: Wiggle and Chain Reaction Cycles are set to merge: So how did we get here and what does it all mean?
"Update: 12/02/2016 14:40pm Both companies have now confirmed that they are to merge. The transaction,which is subject to a number of regulatory approvals, including merger control clearance from the Competition and Markets Authority (CMA), will amount to a business with a combined revenue in excess of £300m" -- via BikeRadar: Wiggle to merge with Chain Reaction Cycles
“In the global online retailing market in which we operate, there is a compelling industrial logic for our two businesses to come together to become a stronger force,” said Wiggle CEO Stefan Barden, who joined the company in September 2013. “The combined business will offer all customers an extended range of brands and products, with Wiggle’s strength in tri-sports and road cycling complemented by Chain Reaction Cycles’ strength in mountain biking, BMX and road cycling too.
“The deal propels Wiggle faster towards its objective of building a global online champion and a major British export success story.”
“This is an exciting new chapter for the Chain Reaction Cycles brand,” added Chain Reaction Cycles’ managing director Chris Watson. “Since the business started in 1984, we’ve grown strongly from our mountain bike origins in Northern Ireland to meet the needs of more MTB, BMX and road cyclists across more countries. Coming together with Wiggle is a great way to continue that growth, as a global force in cycling and a leader in technology, e-commerce and innovation.” -- via CyclingTips: Wiggle and Chain Reaction Cycles are set to merge: So how did we get here and what does it all mean?
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