Fox Factory Holding Corp. has announced that it is to buy Race Face and Easton Cycling for $30.2m.
Larry L. Enterline, FOX's Chief Executive Officer, said:
"We are very excited about the Race Face/Easton acquisition and look forward to welcoming their team to the FOX family. This transaction demonstrates the execution of our strategic initiatives to increase Fox’s product penetration into both existing and adjacent product categories to help drive our bike sales and profitability long-term. We look forward to leveraging our global marketing, engineering, distribution, and supply chain resources to collectively develop next-generation, high-performance bicycle ride dynamics solutions."
Chris Tutton, President of Race Face/Easton, said:
"We believe that Fox and Race Face/Easton are a perfect fit as we complement each other with our distinct high-performance mountain bike product lines. The added operations, marketing, and engineering support will allow us to innovate faster while remaining focused on our core businesses."