Trek Bicycle has acquired the Electra Bicycle Company. "Joining the Trek family provides Electra with business and logistical support as well as distribution assets that will ensure the growth of the brand," said a Trek company statement.
Trek president John Burke said: "I have always admired the Electra Brand. Trek will be able to provide financial, supply chain, distribution, and sales support that will help Electra take its business to the next level. [We] will stay out of their way when it comes to product and marketing.”
Electra president Skip Hess said: "We’re thrilled to have a great new partner in Trek. t’s going to give us the resources to grow the Electra brand and get more people everywhere riding and loving Electra."
The Electra brand will continue to be managed and marketed at its headquarters in Vista, California.
Electra was founded in 1993 by Benno Bänziger of Switzerland and Jeano Erforth of Germany. Bänziger, a Swiss national, moved to California after graduating with a degree in graphic design. He told the San Diego Union-Tribune: "When I looked at cycling in the US was that everything was some kind of sport, but very few people used bikes for fun or for transportation. I wanted to introduce the ‘having a bike in your life’ factor, as opposed to ‘being a cyclist’"