NEWS
CYCLE SHORTS
Decathlon buys stake in Storck
Retail giant Decathlon has invested in the Storck Bicycles brand to the tune of a 25 per cent share of the company. Founders of the firm Marcus and Helena Storck have reportedly upped their stake, from 62.4 per cent, to the own the remaining 75 per cent of Storck.
CTC CEO joins ECF
Kevin Mayne has departed from the CTC after 14 years to join the Brussels-based European Cyclists Federation.
Steve Worland made redundant by Future
Long-time bike testing guru Steve Worland has been made redundant by Future. Having been in cycling journalism for over two decades, Worland is working freelance for Future and looking for other freelance roles in the trade.
Pedego e-bikes opens UK distribution centre
US electric bike firm Pedego has opened a distribution centre in the UK to service its expanding European and UK business. To register an interest in stocking the bikes, contact dan@
pedegoeurope.com
SRAM sticks with cables and10-speed
SRAM's latest update to its RED groupset, revealed on
BikeBiz.com during December, appears to show that the manufacturer's groupset won't go electronic and that it will remain ten-speed.
Five IBDs team up with local council
Forward thinking independent bike retailers have teamed up with Ealing Council to encourage cyclists onto their bikes during the winter chill. Adults taking part in cycle training in a set period will receive a £40 voucher to encourage them into shops.
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4 BIKEBIZ JANUARY
Wiggle sells for £180 million
Months of speculation finally end in Bridgepoint’s
purchase of the award-winning online cycle retailer Exports will remain a focus post-sale, BikeBiz learns
by Mark Sutton
BRIDGEPOINT, OWNER of the Fat Face chain and HobbyCraft, has bought online cycling and triathlon retail giant Wiggle. Paying around £180 million, plus a further £20 million contingent consideration, the price equates to around 12 to 13 times the earnings before interest, tax and depreciation. It is believed several private equity groups and trade buyers were interested in Wiggle, though Bridgepoint, chaired by former Asda chief executive Andy Bond, was largely considered the favourite for the takeover. Wiggle chief executive Humphrey Cobbold is
likely to remain on the board and to re-invest in the business. Wiggle’s cycle marketing manager told
BikeBiz: “All staff at Wiggle have worked so tremendously hard over the past couple of years and this hard work has evidentially paid off. The signatures have barely dried on the paper work, so changes may come that we have no visibility on as of yet, which you’d expect with a new owner. There will be a few management shuffles, but it’s not a case of people leaving. Indeed, the opposite. Humphrey Cobbold (CEO) and Andy Bond (non-exec) are both staying with the business and investing their own cash. I’m certainly
“There will be a few management shuffles but it’s not a case of people leaving. In fact it’s the opposite.”
York Cycle Show holds trade prices by Jonathon Harker
THERE WILL BE no rise in trade prices for stands at this year’s York Cycle Show, which is expected to build on last year’s growth in attendance. This year’s show takes place on the weekend of June 23rd and 24th, days after the Olympic Torch Relay at York’s Knavesmire is held on the same site. 2011’s rise in camper numbers has led the show to have online booking and prepayment in the works for campers. Facilities for those staying overnight will be improved too, with an additional shower unit and a wash trailer to replace the wash tents with bowls of cold water. Chair of the York Cycle
Show Committee Paul Hepworth told BikeBiz: “I’m delighted to report that we made a modest profit in 2011, largely due to advice by City of York Council that we can now legally charge for whole site entry. A wristband system was used, which helped to increase footfall through the Trade Area. We are going to stay with this for the 2012 Show on June 23rd and 24th and also hold the previous show’s Trade Stand prices.” This year will see all visitors given a free ‘slimmed down’ version of the programme which will have advertising space for sale. Show highlights, like the Stunt Show, will
return, while the 2012 Ron Kitching Challenge Ride and Sportive will be held on Saturday June 23rd with options for 100K and 150K to the scenic North Yorkshire Moors. The leisure day rides and the traditional Sunday morning cyclists’ service in York Minster will also take place during the 2012 event. Hepworth added: “Arena grass track racing
“Last year we used a wristband system, which helped increase footfall through the trade area.”
was absent in 2011, due to the retirement of a colleague and lack of a replacement volunteer. However CTC Champions put on a range of participation events for younger riders in a smaller space, and we hope to build on that for 2012. Grass track racing under the auspices of national bodies requires fees for event registration and attendance of officials, plus prize money. This can often only be
achieved through commercial sponsorship which we currently do not have. However we’ll welcome anyone with expertise in this area, to join our team.” A York Cycle Show app, introduced for the 2011 Show, is still available to download from the iTunes App store. Trade packs are now downloadable from
www.yorkcycleshow.co.uk. Alternatively, more details are available from show secretary John Taylorson on 07765 070120 or email
yorkcycleshow@ctc.org.uk www.yorkcycleshow.co.uk
BIKEBIZ.COM
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