The merger is expected to complete shortly following clearance from the Competition and Markets Authority
It’s the announcement that the whole of the bicycle retailing world has been waiting for and/or worrying about.
This Press Release has all we know so far…
The merger of Wiggle and Chain Reaction Cycles is expected to complete shortly following clearance from the Competition and Markets Authority.
Wiggle and Chain Reaction Cycles will create an even more compelling customer proposition, retaining the brands and websites of each business, while seeking to extend its product range, over a stronger, well invested platform and infrastructure. Together the combined business, which will have revenues in excess of £300m will be better placed to compete in the growing global online market for cycling, running, swimming and tri-sports products and accessories.
The corporate name of the newly formed group company will be called WiggleCRC and will be chaired by Brian McBride and managed by Stefan Barden, as Chief Executive Officer. Chris Watson, currently Managing Director of Chain Reaction Cycles, will sit on the board and will be a significant shareholder.
Stefan Barden, Chief Executive Officer of Wiggle and Chris Watson, Managing Director of Chain Reaction Cycles, said:
“Together, Wiggle and Chain Reaction Cycles’ first class team of sports enthusiasts and strong heritage and expertise in cycling, running, swimming and tri-sports, will form the foundations for building a global champion.”