AS Adventure Group has announced that it has acquired the Snow and Rock portfolio, including Cycle Surgery.
AS currently owns the Cotswold Outdoor chain, though will continue the Snow and Rock portfolio of stores as a seperate entity.
In a statement, AS Adventure said: “The AS Adventure Group will work with Snow & Rock, alongside its existing Cotswold Outdoor brand, to develop exciting customer propositions across multi-activity categories to become the largest outdoor retailer in the UK with a combined turnover of £210m.
“The AS Adventure Group will in turn cement its position as the leading outdoor retailer in Europe with a turnover of €550m.”
AS itself received new owners earlier this year with Paris based PAI Partners taking the business on from Lion Capital.
The deal also includes Snow and Rock's other retail label Runners Need.
It's the second time a sizeable cycle retail chain has been acquired in just a matter of weeks, with Evans Cycles owned by ECI Partners as of May 1st 2015.