Wiggle sold for R2Billion

[javadude]

Thats some serious cash, so you can imagine what their turnover must be to value them so highly. Its no wonder that LBS's are taking strain.

[Pieterg]

Specialized will be happy to see me with that cash

[GrumpyOldGuy]

Yeah, its quite a price, who bought it by the way.?

 

As you say, when one looks at international business one just realizes how small we really are as a market. A mate of mine works for most likely the biggest steel distributor merchant in SA, he told me once they sell less steel in the entire SA economy than the local steel wholesalers in the state of New York.

[The Guy in Pink]

Thats some serious cash, so you can imagine what their turnover must be to value them so highly. Its no wonder that LBS's are taking strain.

Turnover = $137million pa

[javadude]

Yeah, its quite a price, who bought it by the way.?

 

As you say, when one looks at international business one just realizes how small we really are as a market. A mate of mine works for most likely the biggest steel distributor merchant in SA, he told me once they sell less steel in the entire SA economy than the local steel wholesalers in the state of New York.

 

 

A company called Bridgepoint. Here's the article:

 

http://www.ft.com/cms/s/0/de1d02dc-20d6-11e1-816d-00144feabdc0.html

[koukie]

Turnover = $137million pa

I wonder what is CRC's turnover a year?

[GrumpyOldGuy]

A company called Bridgepoint. Here's the article:

 

http://www.ft.com/cms/s/0/de1d02dc-20d6-11e1-816d-00144feabdc0.html

 

Yeah, it wont let me read it, you have to register. However, Bridgepoint is actually just a private equity company, in other words the money, so they will most likely put in a management team to run operations. In fact Bridgepoint is a massive equity company and I do believe they were partners with Virgin when they bought out the old "Health and Racquet club" and turned it into Virgin Active. I would think Virgin has bought them out since then and they own the VA operation in its entirety, but for some reason it sort of jogs my very bad memory a bit, I have to say I may be wrong, but I do believe so.

[javadude]

Yeah, it wont let me read it, you have to register. However, Bridgepoint is actually just a private equity company, in other words the money, so they will most likely put in a management team to run operations. In fact Bridgepoint is a massive equity company and I do believe they were partners with Virgin when they bought out the old "Health and Racquet club" and turned it into Virgin Active. I would think Virgin has bought them out since then and they own the VA operation in its entirety, but for some reason it sort of jogs my very bad memory a bit, I have to say I may be wrong, but I do believe so.

 

You're right, it looks like its more of a "Partnership", with the existing management staying in place. This is from Bridgepoint's website:

 

http://www.bridgepoint.eu/about-us/news-views/international-online-bicycle-sportswear-and-accessories-retailer-wiggle

[Velouria]

I wonder what is CRC's turnover a year?

From Competitive Cyclist:

 

In 2010 Chain Reaction did $173 million in global sales and earned $15 million. Wiggle did $137 million with $10.5 million in earnings.

[GrumpyOldGuy]

You're right, it looks like its more of a "Partnership", with the existing management staying in place. This is from Bridgepoint's website:

 

http://www.bridgepoint.eu/about-us/news-views/international-online-bicycle-sportswear-and-accessories-retailer-wiggle

 

Yeah, looks pretty much the same as the "Virgin partnership" which I mentioned.

 

I suspect with this kind of capital backing them, Wiggle is going to become a major force in the market, it was already well known, but this kind of backing is "business changing".!

[splat]

CWC seemed to indicate a partnership with CRC a while ago.

 

Is this tweet just coincidental?

 

CWCOnline CWCycles Online mmmm just received a exciting mail from the UK !!!