MoreGolf Group acquires Cycle Lab

[morecycling]

In what’s been punted as one of the largest leisure and sporting retail deals in the industry for many years, MoreGolf (PTY) Ltd announced its acquisition of Cycle Lab – the largest cycling retailer in South Africa. MoreGolf is also acquiring a number of additional cycling related businesses including the PWC Cycle Park and the online fitness platform Fittrack. These new businesses will be housed within a new division called MoreCycle. Cycle Lab is the market leader in South Africa’s fastest growing sport, has 12 stores countrywide and is the only national cycle chain.

 

MoreGolf’s Stephen Reardon, who will lead the newly formed business alongside Cycle Lab’s Andrew McLean, views the acquisition as a platform for the future development of a best in class retail cycle chain. The MoreGolf group includes The Pro Shop, World of Golf, Golf Villages and playmoregolfSA, some of the best known names on the local golfing scene. “MoreGolf has managed to stay ahead of the curve in terms of extending the retail component of golf to include lifestyle aspects of the game,” says Reardon. “It’s a formula that has served us well for 37 years and we are confident the same philosophy applied to cycling will grow and redefine the business end of this sport within South Africa.”

 

The acquisition is good news for cycling enthusiasts, who will see the MoreGolf passion and proven excellence in customer focus, after-sales service and lifestyle platforms extend to the cycling space. “What has set us apart from competing brands is our ability to remain dynamic in a category that has been fraught with stagnation over the last few years,” says MoreGolf MD, Rhys Hughes. “We have achieved in excess of 30% growth over the last three years. With the sport of cycling on such an impressive growth curve, there is definitely a gap in the market to provide a one-stop solution to enthusiasts at all levels, from recreational to professional.”

 

Cycle Lab founder and current CEO, Andrew McLean, will remain on board in an executive role within the new structure, and brings to the table an enviable reputation within the industry. As a professional cyclist, regular co-host of SuperCycling and the brains behind the Cycle Lab concept, McLean’s involvement is integral to the future of MoreCycle. “The acquisition represents a new chapter in the Cycle Lab story, and one that will bring with it fresh business strategy and direction,” says McLean. “My role is to keep tabs on the needs of the market. I am confident that we will revolutionise the way cyclists of every calibre shop, learn and develop in their chosen sport.”

[flat29]

a birdie told me that cycle lab (more cycle) will take scott away from cajees

Edited September 25, 2013 by flat29

[morecycling]

Hi flat29, not sure about other retailers but we are starting our expansion with a new 2,300 m2 Mega Store on William Nicol and we will be stocking the full range of Scott bikes and accessories as well as many other exciting brands.

[Jigghead]

a birdie told me that cycle lab (more cycle) will take scott away from cajees

 

Hope so

[patches]

what about MOREwood?

[LazyTrailRider]

what about MOREwood?

 

Nah, golfers don't ride them.

[VicanZA]

must be the rise in cycling(MTB) if hurting the golf business, so just get ur fingers in both pie's....

[VicanZA]

does this mean golf courses will have a MTB track around or through it?

[VicanZA]

I would love to ride a Gary Player course...

[Thorn199]

So cycling really is the new golf!

[VicanZA]

So cycling really is the new golf!

 

sad isn't it!

[Reg Lizard]

mmm...megastore, wonder if the pricing would be mega good as well

[morecycling]

Hi All, we are also recruiting a number of new positions for the store. Please see all vacancies here:

 

http://theproshop.co.za/careers-at-cycle-lab.html

 

If you are interested in applying please e-mail to the link on that page.

[ChUkKy]

Hopefully they have an annual sale like the Pro Shop does around this time of year.

Last year I walked into the Pro Shop for a look when the sale was on I left with a new set of clubs, bag and a few other things

Edited September 25, 2013 by ChUkKy

[GrantK24]

New Golf, Old Golf... Who cares... I think its fantastic, more stores + more riders = more TRAILS?

[Whatsup!]

^{From the article I saw in the papers, Cycle Lab was under liquidation.}

^{So more of a bail out than an aquisition. And not for the first time. Will be interesting to see the develoments!}