Business

Partnerships, acquisitions and investment news throughout the cycling industry

BA holds first session of Independent Retailer Forum

The BA has held the first session of a new forum for the independent bicycle retail sector. The association hosted a dozen leading independent retailers, representing the varied sizes, regions and channels of the sector, in early December, hot on the heels of the independent retailer panel session broadcast during …

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HumanForest raises £1.27 million in crowdfunding campaign

HumanForest has successfully completed its crowdfunding campaign, raising £1.27 million. “I would like to offer a warm welcome to HumanForest’s 523 new shareholders,” said Agustin Guilisasti, CEO and founder. “It gives me and the whole team at HumanForest great excitement to know that so many people from all around the …

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CushCore partners with Silverfish for exclusive UK and Ireland distribution

CushCore has partnered with Silverfish for exclusive distribution of its growing range across the UK and Ireland. “We’re super excited to be working with Silverfish in the UK and Ireland moving into 2021! Our best-in-class product sits perfectly with Silverfish’s already strong portfolio,” said CushCore’s European sales and marketing director …

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Covation Holdings expands into European market with UK launch of Huffy

Covation Holdings is expanding into the European market with a new UK sales hub for outdoor bicycle brands Huffy, Royce Union and Buzz e-bikes. Led by EU general manager Jon Tilley, the company will focus on driving brand awareness across European markets, while working with retailers on import programmes and …

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Belgian investor GBL acquires majority stake in Canyon

Groupe Bruxelles Lambert (GBL) has signed a definitive agreement to acquire a majority stake in Canyon Bicycles. Founder Roman Arnold will remain the chairman of the advisory board and reinvest a significant part of his proceeds alongside GBL. As part of the transaction, significant minority shareholder TSG Consumer Partners will fully …

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Pure Electric to open 17th UK retail store, aiming for European expansion

Pure Electric is opening its 17th UK store this Friday, 18th December – which is also its fifth in London. The new store, which will create seven new jobs, is on Tooley Street by London Bridge and follows recent London shop openings in Croydon Box Park, Spitalfields and Holborn. The …

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UK e-bike developer awarded £139,000 from Innovate UK

A UK-based e-bike developer has won investment from Innovate UK’s Sustainable Innovation Fund. CrownCruiser Motors was awarded £139,970 to support the development of the Rapture e-bike as part of a dedicated COVID-19 innovation recovery fund. The grant will enable CrownCruiser to set up an operations and assembly centre in Sheffield, …

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Spend hits £1.1 billion on Small Business Saturday 2020

Spend on Small Business Saturday hit £1.1 billion this year, exceeding the billion-pound mark for the ‘first time ever’ as shoppers showed support for their local high streets. The UK’s eighth annual Small Business Saturday, which took place on 5th December, saw 15.4 million people hitting the high street and …

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BA informs trade of Government decisions on anti-dumping and Airbus tariffs

The BA has informed its members of two significant Government decisions relating to imports, both issues on which it has engaged closely in recent months. The first relates to the EU anti-dumping measures which currently apply to bikes and e-bikes from China. Although an initial decision from the Department for …

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HumanForest’s crowdfunding campaign reaches £1.25 million

HumanForest has secured its target crowdfunding investment of £1.25 million. The campaign is now overfunded thanks to commitments from more than 445 investors. Capital raised will be used by HumanForest to acquire 1,500 electric bikes, expand into 15 London boroughs by summer 2021 and grow internationally in 2022. HumanForest launched its …

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