The parent company of Huffy Bikes has moved to acquire the Niner Bikes brand.
Though details of the transaction have not been disclosed, the press release does speak of “an accelerated global expansion plan” for the 29-inch wheel specialist label. This, it is hoped, will be achieved by adding both independent bike dealers and distribution.
Jobs are not said to be affected by the acquisition, while Chris Sugai, the company’s president will remain on to steer the global vision.
Niner filed for Chapter 11 bankruptcy late last year, later agreeing to a buyout by a group of Colorado investors. However the business is, under the new deal, to be part of the UWHK Ltd group, an investment firm in premium outdoor labels and division of United Wheels, which is a majority stakeholder in Huffy, among others.
Founded in 2004, the firm’s off road 29er focus has diversified in recent years, trickling into offering other wheel sizes, as well as lighter off-road segments.
In the UK Niner is now distributed by Hotlines.
Read more over on Biz Journals.