Reports follow rumours that Evans Cycles owner to buy ProBikeKit

Following at least a week’s worth of rumours, reports are now surfacing that Frasers Group – Sports Direct and Evans Cycles owner – is to purchase ProBikeKit.

CIN reported the forthcoming demise of ProBikeKit last month, although the site is still trading online and evidently attracting attention from potential purchasers. The THG-owned site could become another Frasers Group owned business by the end of the week, according to Sky News. 

In early April, THG said it was discontinuing operations in its OnDemand division. It bought ProBikeKit in 2013.

THG declined to comment on the story to CIN last week and remained similarly silent on the topic to Sky News today (Monday 22nd May).

Pundits may see this as another indication of the cycling industry’s positive long term prospects, despite its current difficulties. Undoubtedly, the trade is having a rocky 2023, with two key distributors – Moore Large and 2pure – forced to bring in administrators. Headwinds of too much inventory in the trade, combined with price inflation and consumers having less spare cash have created a crunch for the bike trade, and indeed many other sectors.

Yet this show of interest in ProBikeKit is not a lonely tale of potential investment in the cycle market in 2023, with CIN’s site littered with headlines of brands securing cash and funding rounds. Arguably, those with the cash are well aware of the positive long term prospects of an industry that can help solve quite a few of those key problems facing the nation and indeed planet, like obesity, congestion, pollution, etc. And then there’s the tantilising prospect of unlocking swathes of new customers with the advent of eBikes and cycling as mobility rather than soles as a sport pasttime – prospects that clearly continue to resonate with investors.

That aside, we’ll update you on the future of ProBikeKit as soon as we have details.