Following the merger of Wiggle and Chain Reaction Cycles in 2016, WiggleCRC has now announced that it has acquired leading German rival Bike24 in a deal reported to be worth £100 million.
The move will see WiggleCRC expand further into mainland Europe, with Bike24 reporting revenues of €84.5 million (£75 million) in 2016, with its market predominantly in Germany, Austria, and Switzerland.
As was the case when Wiggle acquired Chain Reaction Cycles last year, Bike24 will remain as a separate brand, most likely sharing distribution networks.
"Bike24 is a leading German operator and a much admired and respected retailer," Wiggle CRC CEO Will Kernan said in a statement. "We are delighted to bring Bike24 within the WiggleCRC group.
"The Bike24 brand, team and customer proposition will remain and will be further supported by the WiggleCRC business. Customers across the group will benefit from a broader offering of leading brands, great service and compelling value."
Watch: October's best tech
Bike24 CEO Andrés Martin-Birner said that he was looking forward to continuing to grow the brand with the support of WiggleCRC.
"I am hugely proud of all that our team has achieved in the last 15 years," Martin-Birner said.
"In WiggleCRC we have found a partner who will add support to our ambitious growth plans and protect the brand and the culture of Bike24. We will share knowledge, our passion for cycling and tri-sports and together we will approach the future with confidence.
Thank you for reading 5 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1
Henry Robertshaw began his time at Cycling Weekly working with the tech team, writing reviews, buying guides and appearing in videos advising on how to dress for the seasons. He later moved over to the news team, where his work focused on the professional peloton as well as legislation and provision for cycling. He's since moved his career in a new direction, with a role at the Department for Environment, Food and Rural Affairs.
Opinion: The UCI doesn’t have anything to offer the gravel community that it doesn’t already have
As the UCI gears up for its first-ever UCI Gravel World Championships, not everyone is so keen on their involvement
By Yuri Hauswald • Published
We entered the British Gravel Championships and it was brutally fun
We lined up with Britain's top gravel hitters to find out what it’s really like trying to hold on to the pace in a fast and flat five-lap, 76.5km race
By Anna Marie Hughes • Published