UPDATE 30/6/16: Online retailers Wiggle and Chain Reaction Cycles have received merger approval from the UK's Competition and Markets Authority. The new company will be called WiggleCRC.
It will be chaired by Brian McBride and managed by Stefan Barden, as Chief Executive Officer. Chris Watson, currently Managing Director of Chain Reaction Cycles, will sit on the board and will be a significant shareholder.
Barden said: “Together, Wiggle and Chain Reaction Cycles’ first class team of sports enthusiasts and strong heritage and expertise in cycling, running, swimming and tri-sports, will form the foundations for building a global champion.”
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Previous coverage follows below...
Update: 12/02/2016 14:40 Both companies have now confirmed that they are to merge. The transaction, which is subject to a number of regulatory approvals, including merger control clearance from the Competition and Markets Authority (CMA), will amount to a business with a combined revenue in excess of £300m.
The full press release is below:
Merger to create global champion
You can read more at BikeRadar.com
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