It has been confirmed that Bridgepoint has bought Wiggle in deal worth £180m.
Bridgepoint owns Fat Face and has been touted as the most likely suitor for some days and now the widely reported deal has gone through.
Wiggle was part owned by Isis Equity Partners and sells to 88 countries.
It has been voted as the BikeBiz 'online retailer of the year' for three years running.
Wiggle CEO Humphrey Cobbold said: “We are delighted to have a new partner and owner in Bridgepoint, and would like to thank ISIS for being a fantastic supporter of Wiggle, its 200 colleagues, suppliers and brands over the past five years. Their investment and involvement has transformed Wiggle into a truly global retail business with best in class execution.
“Bridgepoint is highly experienced and successful in investing in growing retail and consumer businesses, and has an extensive international network which matches Wiggle’s international strategy and growth aspirations, and will be a significant benefit to continuing the strong growth.
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“Wiggle could not have achieved this growth without the phenomenal commitment and enthusiasm of everyone of our colleagues, and we look forward to working alongside them as we develop the business the next exciting phase of channel and international expansion.”
Bridgepoint partner Vince Gwilliam added: “Wiggle is benefitting from strong structural market drivers such as the shift to online retailing combined with the trend towards fitness and health living and the increasing popularity of cycling as a pastime. In addition, it has had a strong track record of profitable organic growth.”
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1 comment
We might get a few less discount code emails now they have maximised short term turnover for a last grasp slice of the cake before handing it over
Darren Bland Dec 8th 2011 at 7:10PM
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