Madison has announced that it has secured the purchase of the Saracen brand and all related intellectual property.
Saracen, the company, will continue to trade as normal until the end of March 2009 following which it will bring the business to a close.
Rick Stanforth, chairman of Saracen, commented: “23 years and over a million bikes is a phenomenal achievement. What pleases us most is that we are handing Saracen over to an organisation that is incredibly well placed to further develop the brand. It’s been a huge part of our lives and we’re looking forward to watching the brand continue to grow during the next stages of the brand’s ongoing development.”
Madison will now aim to develop the brand with investment, including building a new design team with an emphasis on engineering, technical excellence and customer support. Saracen will also benefit from Madison’s ability to provide stock support and credit lines for its customers.
Saracen will now sit alongside Ridgeback and Genesis. Dominic Langan, CEO of Madison, said: “We have been looking to acquire a bike brand for some time and Saracen presents us with the best opportunity. With the energy, focus and investment that Madison brings we expect the brand to go from strength to strength.”
It is Madison’s aim to launch the all-new Saracen range for 2010. Warranty and support for all current Saracen bicycles should be directed to Saracen Bikes until 31 March 2009.