Wigglecrc makes £100m move on german rival bike24

Discussion in 'Cycling Equipment' started by steve, Oct 23, 2017.

  1. steve

    steve Administrator
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    WiggleCRC makes £100m move on German rival Bike24

    WiggleCRC backer Bridgepoint is closing in on a deal to acquire German online retailer Bike24, reports The Sunday Times. The private equity firm is expected to pay £100m to acquire the €85m Bike24, which would cement Wiggle CRC's position as the world's leading online cycle retailers.

    Bike24 also operates in Austria and Switzerland.

    WiggleCRC had a turnover of £283m last year, but thanks to costs associated with the absorption of Chain Reaction Cycles made profits of only £7m.

    A statement from WiggleCRC said: "The combination of WiggleCRC and Bike24 will create a stronger pan-European Group, with increased scale and strengthened local sourcing and distribution networks."

    Bike24 and the Bike24 brand will continue to operate as a separate business, within the WiggleCRC group.

    Read more: https://www.bikebiz.com/news/read/wigglecrc-in-100m-move-on-german-rival-bike24/022053

    WiggleCRC steers towards £100m takeover of German rival Bike24
    WiggleCRC confirms it has bought German e-commerce site Bike24
     


  2. CAMPYBOB

    CAMPYBOB Well-Known Member

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    Bike24 has some great deals! Wiggle has a few items that I buy because only a few of the online businesses stock them. Good folks.
     
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  3. steve

    steve Administrator
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    Wiggle and CRC have some great deals, especially for us here in OZ where local prices are often quite high. I didn't know Bike24 existed until I read this article, looks like a decent setup :cool:
     
  4. CAMPYBOB

    CAMPYBOB Well-Known Member

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    Bike24 has run some killer deals on smart trainers.

    Wiggle, CRC, Ribble, Merlin, Excel Sports, Jenson USA, Bike Nashbar, Competitive Cyclist, BikeInn, ProBikeKit, Colorado Cyclist, BikeTiresDirect, Performance, Planet X And On One, R&A Cycles (how much money you got, kid?!), Planet cyclery...I shop them all with great success.

    BTW, I'm not staying logged in despite checking the Stay Logged In box upon login. Can you fix that, Steve? Thanks!
     
  5. steve

    steve Administrator
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    Thanks, i'll have a look into this, I think I know what might be causing it.
     
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  6. CAMPYBOB

    CAMPYBOB Well-Known Member

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    Thanks, Steve!
     
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