Cumbrian cycle store bought by online retailer
Last updated at 07:57, Wednesday, 30 January 2013
Kendal based online cycle store ProBikeKit.com has been acquired by one of Europe’s fastest growing online retailers - who labelled it ‘an outstanding brand for acquisition’.
The Hut Group acquired ProBikeKit for an undisclosed fee, seeing it as the perfect opportunity the Group’s lifestyle division.
ProBikeKit, also known as PBK, will join the Group’s Lifestyle division, alongside the existing brands of Myprotein, the UK’s largest sports nutrition brand and Myvitamins.
PBK is a leading online road cycling specialist retailer based in Cumbria, but with a global reach. It was started by a small team of passionate road cyclists in the early 90s.
Matthew Moulding, Chief Executive of The Hut Group, said: “We identified PBK as the outstanding brand for acquisition given its heritage, the breadth and longevity of its supplier relationships and its international customer reach.
“We are very excited about the prospect of combining the specialist know-how of PBK with The Hut’s ecommerce expertise to compete in a sector growing at 15% a year.”
The PBK range will be expanded to include triathlon, another high growth and complementary product category.
PBK’s already stock a range of specialist cycling gear including accessories, components, clothing, tyres and tubes, frames and sports nutrition and supplements.
The Hut Group is a ‘multi-category, multi-website’ specialist on-line retailer and brand owner, selling high repeat purchase goods direct to consumers across the sports nutrition; health and beauty; entertainment; gifting; clothing and accessories markets.
The Hut Group was ranked no.1 in the ‘Sunday Times Tech Track 100 of the UK’s fastest growing companies’ and ranked the 3rd fastest growing digital company in Europe at the ‘GP Bullhound Media Momentum Awards’ in May 2010.
First published at 07:56, Wednesday, 30 January 2013
Published by http://www.in-cumbria.com
- Funniest Twitter responses to best ever Apprentice episode
- Roman fertility god banned by Facebook
- £450,000 boost to Rosehill theatre redevelopment
- Firm uses Skype to help client in Ebola zone
- Will Lloyds Bank branches in Cumbria be saved from the axe?
- Firms urged to aim higher at Growth Twenty14
- Over 2000 new businesses set up in Cumbria this year
- MPs press rail minister to invest in Furness line
- 20,000 will use Carlisle airport to get to USA
- Cumbria business discovers amazing Roman treasure
- Cranston’s: we won’t leave to grow
- Hotel wins top Facebook award
- Cumbria businessman lauded nationally as visionary
- Keep ownership until cash is in the bank
- Never underestimate the importance of lists
- Eight global markets already lined up for Lakes Gin
- Lakeland kitchenware predicting rapid growth
- Nuclear skills time bomb can be halted
- Should firms support Labour's minimum wage plans?
- Carlisle Living Awards: winners revealed
- Cumbrian village digs its own broadband network
- Story Homes submits plan for 190 houses in north Carlisle (46 comments)
- Record occupancy for Cumbria hotel