WiggleCRC Looking at £100m Takeover of German Rival Bike24

Internet retail giant WiggleCRC (formed when Wiggle acquired CRC in 2016) is apparently making a major bid for German Rival Bike24, according to the Sunday Times. Excerpt from the article below:

British cyclewear retailer WiggleCRC is racing towards a £100m takeover of German rival Bike24.

The online bike-to-clothing store is in advanced talks to buy the German business, a year after it swooped on Chain Reaction Cycles, another rival based in Northern Ireland. The company renamed itself WiggleCRC following the merger last February. The acquisitive retailer backed by private equity firm Bridgepoint, is understood to be paying more than £100m for Bike24, sources said.

WiggleCRC enjoyed sales of £283m last year, and made underlying earnings of about £7m. The Bike24 deal is likely to add revenues of more than €85m.


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6 comments
  • Oz_Taylor

    10/22/2017 3:28 PM

    WiggleCRC enjoyed sales of £283m last year, and made underlying earnings of about £7m

    Is that correct? That's a 2.5% profit margin. No wonder bike shops are having a hard time. Nobody can survive on those margins unless you are turning over tens of millions.
  • iceman2058

    10/22/2017 11:02 PM

    That number includes expenses written off as part of the CRC acquisition, they'd usually expect to make a better margin.

  • PlunderPath667

    10/22/2017 10:47 AM

    Everyone should know by now that EU anti-trust (and anti-dumping, and illegal subsidy) laws only apply to US corporations.

    This deal is too small to gain any attention anyway, I just hope CRC keeps the under-US-wholesale pricing on Shimano.

  • Maxipedia

    10/22/2017 10:35 AM

    What do those antitrust laws say?

  • mamath7

    10/22/2017 8:26 AM

    WiggleCRC24

  • twodogsfighting

    10/22/2017 7:53 AM

    Well, thats going to be utterly shite for competition.

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