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Colin Young, Managing Director of Royalty Sports, said: “we are very pleased to welcome the Craven House Capital team to South Africa. It is a positive endorsement of our strategic growth plans. The transaction has significantly strengthened our balance sheet and will enable us to bring an increased volume of product into SA. We plan to double our market share across all product ranges within the short term.”

What does this mean for our customers?

• Stability of supply and confidence in the availability of product

• A mutually beneficial long term partnership with Royalty Sports

• Growth in sales and market share

• International brand commitment to our customers

• Immediate availability to international trends and products.

Dave Linder, director of Royalty Sports said: "Over the last twenty years Trek Bicycles in particular has had inconsistency in its distribution partners in SA which had resulted in the Trek brand being discounted unnecessarily and its brand equity constantly eroded by the wrong brand decisions. We are now in a place with the relevant international commitment from Trek to grow from strength to strength and again dominate the South African cycling landscape. Bontrager cycling accessories have surprised all of us and this brand has captured significant market share in a short space of time.

Craft SE continues to dominate the cycling apparel section with world class performance wear. We will be launching the Craft Run range later in the year which will allow us to offer the Craft brand to non-cycling athletes who will then benefit from the extensive athlete development programs designed to ensure that Craft is the most performance engineered sports product available.

Hoka One One further allows Royalty Sports to develop into a sports focused business and not be restricted to the cycling industry only. Hoka One One has rapidly become a dominant shoe brand in the X-terra, Trail and running markets."

Royalty Sports have appointed local businessman, Mr. Chad O’Riordan to its Board as sales director with immediate effect. Mr. O’Riordan has also acquired a minority stake in the company and commented “I am excited about working closely with the Independent Bike Distributors to grow their business and by default Trek/Bontrager market share. Our focus is to ensure that we deliver top quality bikes timeously to consumers at the right price, thereby building IBD confidence in the brands that we hold.”

Thomas Rood, Merchandising and Brand Executive for Trek SA said: “With an already impressive portfolio of brands in Trek, Bontrager and Craft, and an ever-increasing distribution network of retail partners, Royalty Sports is poised to offer a greater number of customers even greater variety of world class products.”