Cardinal Cycling Group acquires Detroit Bikes
The Cardinal Cycling Group has announced a further broadening of the group with the acquisition of Detroit Bikes.
Included in the deal are the brand name, inventory and production facility, based in the namesake ‘Motor City’. This gives the Cardinal Cycling Group a further U.S. manufacturing base on which to build bicycles spanning various price points and materials. The Detroit bicycle manufacturer goes as far to claim to be the USA’s largest volume steel frame manufacturer, in part down to its partnerships with brands like Schwinn to produce at an OEM level.
Tony Karklins, CEO to the group said: “From the moment I saw the Detroit Bikes launch video in 2014, I have loved the brand. Zak and I became friends over the years as we have been on a similar path of re-shoring bicycle manufacturing, getting more people on bikes and building brands that matter. We are thrilled to take the reins and commend Zak for building a passionate and iconic brand.”
The brand buyout closely follows a February 2021 purchase of the assets attached to the Time Sport bicycle and frames business, though not the pedal arm, which was sold to SRAM.
Detroit Bikes’ founder Zak Pashak added: “It has been an amazing ride over the last decade and I am happy to turn Detroit Bikes over to Tony and his team at Cardinal Cycling Group. The recapitalization of the business along with Cardinal’s industry knowledge and connectivity is exactly what Detroit Bikes needs. I look forward to being part of the team and helping take Detroit Bikes to the next level.”
In case you missed it yesterday, this announcement was actually the third acquisition story of the day with SRAM purchasing the Hammerhead brand and Kona Bicycles also sold on.
