U.K.-based online retailers Wiggle and Chain Reaction Cycles have confirmed today that they will merge, pending approval from various regulatory bodies, including the Competition and Markets Authority. The companies will have combined revenues of well over $400 million.
"In the global online retailing market in which we operate, there is a compelling industrial logic for our two businesses to come together to become a stronger force,” said Wiggle CEO Stefan Barden. “We have long respected Chain Reaction Cycles as a business and share its values and commitment to delivering the best possible price and first class service for its customers. Like us they have a deep seated love of cycling. The combined business will offer all customers an extended range of brands and products, with Wiggle's strength in tri-sports and road cycling complemented by Chain Reaction Cycles' strength in mountain biking, BMX and road cycling too. The deal propels Wiggle faster towards its objective of building a global online champion and a major British export success story."
"This is an exciting new chapter for the Chain Reaction Cycles brand,” said CRC Managing Director Chris Watson. “Since the business started in 1984, we've grown strongly from our mountain bike origins in Northern Ireland to meet the needs of more MTB, BMX and road cyclists across more countries. Coming together with Wiggle is a great way to continue that growth, as a global force in cycling and a leader in technology, eCommerce and innovation.”