The merger between Chain Reaction Cycles & Wiggle has been confirmed. The Merger will go through subject to clearance from the Competitions & Markets Authority. The combined business will now have revenues in excess of £300 million.
Could this be another nail in the coffin for those small local bike shops…. I certainly hope now!
Stefan Barden, Chief Executive Officer of Wiggle, said:
“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. We have long respected Chain Reaction Cycles as a business and share its values and commitment to delivering the best possible price and first class service for its customers. Like us they have a deep seated love of cycling. 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.”
Chris Watson, Managing Director of Chain Reaction Cycles, said:
“This is an exciting new chapter for the Chain Reaction Cycles brand. 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, eCommerce and innovation.”