bought by The Hut - BikeBiz bought by The Hut

Online bike realiser bought by owner of and other sites. Buyer was attracted to a sector growing 15%p.a.
Publish date:
1-probikekit.jpg of Cumbria has been bought by The Hut Group of Cheshire, owner of and speciality web retailer 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


Senior Sales Executive

BikeExchange I UK I Salary TBC Depending on level of experience I Date published Tuesday 31st July 2018

bespoke biking promo

Bike Project Manager

Bespoke Biking CIC I The Bike Hub Winchester I Salary: £20-25k DOE I Date Published Tuesday 24th July 2018


Technical Service Mechanic

Canyon Bicycles UK Ltd I Kingston upon Thames I Competitive Salary I Date Published Monday 6th August 2018

webuycycle promo

Business Manager

Bikeworks Derby/Webuycycle I Derby I Salary: Competitive but Negotiable DOE I Date Published Wednesday 15th August 2018

giant promo

Credit Controller

Giant Bicycles I Leicester I Salary: Competitive Salary Experience Depending I Date Published Wednesday 8th August 2018