Freshbikes Franchising, LLC, a company formed by two Conte’s
Bicycle and Fitness franchise owners, will take over the entire Conte’s
franchise system.

Freshbikes Franchising, LLC has acquired all the assets of P&K
Ventures, the previous franchise operator, and is the new operator
effective immediately. P&K Ventures and Conte’s Bike Shop parted ways in late July after a trademark infringement lawsuit between the two settled.

Freshbikes Franchising will be operated by Scott McAhren and Jody
Bennett, current owners of Conte’s franchises located in Arlington,
Virginia, and Bethesda, Maryland. Bennett and McAhren bring a combined 35-plus years experience in
retail and marketing to the new venture that provides a solid base to
support their efforts in building the franchise.

Freshbikes Franchising will be the franchisor for the eight
franchises currently operating under the Conte’s Bicycle and Fitness
name, including stores in Bel Air, Maryland; Chesapeake, Virginia;
Conyers, Georgia; Newport News, Virginia; Norfolk, Virginia and
Williamsburg, Virginia.