PxPixel
Probikekit.com bought by The Hut - BikeBiz

Probikekit.com bought by The Hut

Online bike realiser bought by owner of iwantoneofthose.com and other sites. Buyer was attracted to a sector growing 15%p.a.
Author:
Publish date:
1-probikekit.jpg

Probikekit.com of Cumbria has been bought by The Hut Group of Cheshire, owner of myprotein.com and speciality web retailer iwantoneofthose.com. Probikekit has a turnover of about £15m p.a. Details on the purchase amount have not been released. he acquisition, for an undisclosed sum, will add around to The Hut's annual turnover.

'PBK' was founded in 1998 and was part-owned by private equity firm Encore Capital.

The Hut plans to cross-sell between its site and also to expand the PBK product range to include triathlon kit.

The Northwich-based company is planning to list on the stock market later this year.

In a company statement, Matthew Moulding, chief executive of The Hut Group, said:

“Following a review of the sector we identified PBK as the outstanding brand for acquisition given its heritage, the breadth and longevity of its supplier relationships and its international customer reach.

"Through our due diligence it quickly became apparent that Encore Capital had created a stable and professionalised platform ideal for the group to enter the specialist cycling and triathlon markets."

Featured Jobs

the cycle hub

Showroom Manager

The Cycle Hub I Dubai, United Arab Emirates I Competitive Package & Bonus I Date Published Tuesday 26th June 2018

Giant St Paul Logo

Bike Fitter / Sales Person

Giant St Pauls I City of London I Salary: Negotiable Dependent on Experience I Date Published Thursday 21st June 2018

CRC_Logo_620x349-1

Bike Technician

Chain Reaction Cycles I Ballyclare I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018

Canyon_Logo_1(1)

Brand Content Writer

Canyon Bicycles GmbH I Koblenz, Germany I Salary: Up to €38,000 I Date Published Tuesday 3rd July 2018

CRC_Logo_620x349-1

Retail Sales Advisor

Chain Reaction Cycles I Belfast I Competitive Salary & Benefits Package I Date Published Monday 2nd July 2018