Ribble owner hires bankers to get business ready for sale

Ribble is reportedly being readied for a sale by its owner True Capital, with Sky News writing last night that the 124-year-old UK firm has hired bankers to begin the auction process.

The consumer direct bike giant, which has diversified into high footfall physical retail offerings in recent years, is believed to be working with Stifel who are said to be at early stage preparations to move the business on.

True Capital took on the Ribble business in 2016, since which time the bike portfolio has expanded to deliver a range of electric bikes, alongside the more traditional lines that the label is known for. It has introduced shopping innovations such as video consultations to convert online browsers, as well as going on a marketing drive that has seen the brand’s advertising hit both television, as well as specialist and non-specialist media.

Sky reports that the scope for future growth for the brand lies in the overseas opportunities yet untapped.

If true, the rumoured sale fits the bill of what ‘bike bankers’ are looking for in an investable business. Back in March CI.N gained insight from the investment firm behind the Canyon buyout, learning that investors circling the bike world are seeking consumer direct businesses within the sustainability, mobility and leisure tech segments.