Rouleur bought by Passoni owner Matteo Cassina

Rouleur has been bought after a period on sale by the owner of custom high-end bike manufacturer Passoni, Matteo Cassina.

The deal, which values the company at close to £1.8 million, sees Rouleur’s publishing business and growing global events portfolio now aligned with Cassina’s vision to build an international marketing-media group, reports Flashes and Flames.

The London-based magazine was launched in 2006 by sportswear brand Rapha, and sold seven years later to Gruppo Media. Reportedly, around 80% of Rouleur’s £1.8 million revenue in 2019 came equally from the magazine and exhibition, while 20% came from e-commerce sales of clothing, books and tools.

The publisher has in recent years introduced international versions of the Rouleur Classic exhibitions, which are operated under licence in Los Angeles and Melbourne. At this stage these are not included in the deal, Rouleur has told CI.N.

Rouleur magazine has won several professional awards in the UK over the past few years, however has reportedly seen thousands in annual losses and borrowings while on the lookout for a new owner.

An investor in sportswear, cycle races and e-sports companies, Cassina also owns Passoni, which sells 500 hand-built titanium and stainless steel racing bikes a year priced at an average of £15,000.

This year’s Rouleur Classic events are set to take place 5-7 November (London), 13-15 November (Los Angeles), and 18th November (Melbourne).