NEWS
Muc-Off championing female cyclists with #MoveOver
MUC-OFF has announced the launch of its #MoveOver campaign, targeted at championing female cyclists worldwide. #MoveOver is a celebration of the revolution in women’s
road racing and coincides with the return of Tour de France Femmes avec Zwift, which took place from 24th-31st July. The bike care brand is also partnering with seven non-
profits that help break down barriers between women and bikes, including Cycle Sisters, Black Girls Do Bike, Homestretch Foundation, Women’s All Ride Collective and more, which between them provide support to women at every level. Muc-Off also donated 10% of all profits generated from sales
Vista Outdoor to acquire California-based Fox Racing for $540 million
VISTA Outdoor has entered into a definitive agreement to acquire California-based Fox Racing. The purchase price is $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance. Jeffrey McGuane, CEO of Fox Racing, will continue to lead the
company following the closing of the acquisition, as will all of Fox Racing’s leadership team. For calendar year 2022, Fox Racing’s full-year net sales and
adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) are expected to be approximately $350 million and $55 million, respectively. Vista Outdoor expects to close the transaction in the second fiscal quarter of FY 2023. ●
– direct and through distribution and retail – of its Nano Tech Bike Cleaner, refill ranges and Waterless Wash, throughout July. ●
Pre-owned bike specialist Cycle Exchange announces rebrand
THE pre-owned bike specialist Cycle Exchange has unveiled its new look. Cycle
Exchange, based in Kingston, Surrey,
specialises in buying and selling second-hand bikes, frames, wheels and parts. Working with cycling design agency Conductor, Cycle
Exchange’s new look emphasises its focus on sustainability and recycling, as the brand aims to expand in the European market. Founded in 2013, Cycle Exchange buys premium used
bikes from riders, before servicing and refurbishing machines before selling them on ‘like new’. ●
British Cycling announces two new funding schemes to support event organisers and rebuild participation levels
BRITISH Cycling has announced the launch of two new funding schemes, worth a total of £45,000, to support event organisers. Supported by Sport England’s Sector Renewal programme, the funds will enable organisers of national, regional, and entry- level events to bid for funding to support event delivery, with a particular focus on events targeted at youth and junior riders, para-cyclists, women and girls, and diverse ethnic communities.
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With the Covid Recovery Fund, open until March 2023, organisers can apply for a grant of up to £300 (regional events) and £500 (national events). With the Entry-Level Events Fund, organisers can apply for of up to £200 towards events including a Go-Ride Racing, Go-Race, Go-BMX, Go-Cross or Go-MTB race. ●
August 2022 | 11
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