Bicycle Retailer reported that the buyout also includes the Public Bikes brand, which Mike’s Bikes acquired in 2017 giving the chain an exclusive range of city bikes.
“The acquisition of Mike’s Bikes aligns with Pon’s strategy to expand its retail operations in North America by acquiring premier specialty retail brands in top markets,” said Pon Group in a statement.
The business has been run by CEO Ken Martin and President Matt Adams, both of whom will remain with the company in their current roles. Partner Mike Gabrys sold his shares and has left the business.
One of the largest bike manufacturers in the world, Pon Group is the parent, or rights holder, to brands including Santa Cruz, Kalkhoff, Derby, Univega, BBB, Gazelle and Cervelo.
