One of Britain’s biggest and best-known bike brands, Saracen, has been sold. The Saracen brand has been purchased by Madison, the country’s largest distributor of bikes, components and accessories.

The Saracen name joins Madison’s existing brands – Genesis and Ridgeback – in its bicycle division. Madison are aiming to launch a completely new range of Saracen bikes in 2010.

Saracen is most well known for its long-running range of mountain bikes. According to company figures, over one million Saracen bikes have been bought since the company’s inception in the 1980s.

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.?

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.?

Saracen will cease trading as a separate company on 31 March 2009.