Niner Bikes has agreed to a buyout by a group of enthusiast Colorado investors, according to Bicycle Retailer.
Announced just prior to the Thanksgiving break, the company hasn’t identified the new owners, but did outline that founder and president Chris Sugai will remain on as part of the deal.
“We’re happy to have a partner that shares our vision for the future, one who enables us to take Niner’s products and services to new heights,” said Sugai. “I’ll still be directly involved in the day-to-day operations, working diligently with our incredible team to explore and push the boundaries of this amazing brand’s potential.”
It is expected that the buyout will not have too much impact on the day to day running of the business.
Founded in 2004 with an initial pot of $750,000 raised by family and friends, Niner is a specialist producer of 29-inch wheeled bikes and employs only those who ride themselves.