Merida UK has been acquired by the Merida Taiwan, the firm’s new managing director has told CyclingIndustry.News.
Though not publicly announced, the deal sees Buxton depart his role as managing director of Merida UK, where he had steered the business to become one of the brand’s top international distributors.
Chris Carter replaces Buxton as the managing director of the UK arm.
He told CyclingIndustry.News: “Merida UK has gone from a joint venture with Merida Taiwan to a subsidiary with 81% share ownership. I own the other 19% and have now become MD.”
More to follow…