December 5, 2014 – Fox Factory Holding Corp (Nasdaq: FOXF) – the parent company of suspension brand FOX Racing Shox – has acquired Race Face Performance Products Ltd and Easton Cycling.
Chris Tutton, President of Race Face/Easton stated in a press release – “FOX is the perfect fit for Race Face/Easton. All three brands complement each other with our distinct high-performance product lines... The added operations, marketing, and engineering support from FOX will allow us to innovate faster while remaining focused on our core businesses.”
“We are very excited to complete the Race Face/Easton acquisition and welcome their team to the FOX family,” stated Larry L. Enterline, FOX’s Chief Executive Officer. “This transaction demonstrates the execution of our strategic initiatives to increase FOX’s product penetration into both existing and adjacent product categories to help drive our bike sales and profitability long-term. We look forward to leveraging our global marketing, engineering, distribution, and supply chain resources to collectively develop next-generation, high-performance bicycle ride dynamics solutions.”
This acquisition unites three of the cycling industry's heavy hitters, uniting Fox’ suspension technology with the aluminium and composite component expertise that both Easton and Race Face are known for.
Tutton acquired Race Face Products in 2011 following it falling into receivership. In April 2014, Race Face Products acquired Easton Cycling from BRG (Bell, Riddell and Giro).
via BikeRadar.com http://ift.tt/1u9faP9
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