The ASG Group has acquired Californian mountain bike brand Ellsworth.
"ASG has been distributing Ellsworth mountain bikes in South Africa for a couple of years now," said Heinrich Dannhauser, group CEO of ASG. "From the outset, we’ve been impressed by the quality, craftsmanship and performance of Ellsworth products, especially with the latest models. The acquisition reflects our effective diversification strategy across the cycling industry and with the deal concluded, we will now concentrate our efforts on building upon the heritage that the Ellsworth brand has already built in the United States, South Africa and Europe."
Tony Ellsworth, founder of Ellsworth in 1991, will stay on with the company as head of design, having been a central figure in mountain bike design and MTB suspension technology for almost three decades.
Claudio Fantin, international marketing strategist of the ASG Group, was quoted as saying: "The Ellsworth brand has enormous potential and is ... simply beautiful! We are ready and excited to take on this new challenge because the Ellsworth brand fits our corporate DNA perfectly; never stop having fun, never stop innovating, never stop breaking the rules."
Alongside bikes, ASG will invest in the development of a range of Ellsworth lifestyle products and apparel to compliment the brand.
Mike Chapman will take over the reigns as CEO.
Ellsworth will operate from its new facility in San Diego, California as a subsidiary of ASG North America. ASG will also distribute other in-house brands through the USA from this location, including SCICON.