Cardinal Cycling Group has acquired the assets of Detroit Bikes, including the brand, inventory and production facility. Zak Pashak, Detroit Bikes founder, will remain a partner in the new company and continue factory management and business development.
Detroit Bikes will continue operations while it executes planned 2022 production and develops an expanded product range scheduled to launch in the second half of 2022. Cardinal Cycling Group said it intends to develop its Made in the USA steel range further and expand its urban eBike offerings.
“From the moment I saw the Detroit Bikes launch video in 2014, I have loved the Detroit Bikes brand. Zak and I became friends over the years as we have been on a similar path of re-shoring bicycle manufacturing, getting more people on bikes and building brands that matter. We are thrilled to take the reins at Detroit Bikes and commend Zak for building a passionate and iconic brand,” said Tony Karklins, CEO, Cardinal Cycling Group.
“It has been an amazing ride over the last decade, and I am happy to turn Detroit Bikes over to Tony and his team at Cardinal Cycling Group. The recapitalization of the business and Cardinal’s industry knowledge and connectivity are exactly what Detroit Bikes needs. I look forward to being part of the team and helping take Detroit Bikes to the next level,” said Pashak.
Photo courtesy Detroit Bikes