Equip Outdoor Technologies Ltd, which owns the outdoor brands of Rab and Lowe Alpine, sold the Podsacs brand to U.K. bike maker and retailer Planet X Limited in a deal that closed Monday, Oct. 23.
Equip acquired the Podsacs brand in 2007 from founder Pete O’Donovan and expanded the collection from packs and bouldering mats to include a successful range of accessories. The sale marks a final step in a process that will see enable the Equip group to now focus on growing the Rab and Lowe Alpine brands.
Planet X Limited will make a separate statement regarding their plans for the brand. The final deliveries of stocks from Equip Outdoor Technologies Ltd were completed last week.
Planet X employs more than 100 staff at its South Yorkshire headquarters, where they design, manufacture and assemble high performance road and mountain bikes and components that sell for between £500-£5000. The company has sold direct to consumers for 20 years and now sells globally via the Internet and owned stores. Podsacs joins Planet X’s existing brands, On-One, Titus, Holdsworth, Sab, Tomac and Viner.
“It’s fantastic to be in a position to take a classic brand like Podsacs on to the next level, and the systems we have developed at Planet X will allow us to make those differences,” said Planet X CEO David Hanney.
Podsacs remains in Sheffield, where it was founded, with its team of designers, factories and athletes intact.
