Advanced Sports, Inc. has reached an agreement to purchase Kestrel Bicycles. ASI currently owns the Fuji and SE Bikes brands. Under the terms of the agreement, Advanced Sports, Inc. has acquired the rights to the Kestrel brand, trademarks and intellectual property, along with its marketing assets and all tooling. Sandpoint Design, Kestrels current owner, will continue to sell through its 2007 inventory. ASI will introduce the 2008 model line at Interbike. Silver Steep Partners served as advisor to Kestrel.
It will feature models including: RT900 SL, RT800, Evoke, Talon, Talon SL and the AirFoil SL. 2008 Kestrel framesets will be available in January 2008; complete bikes will be available starting February 2008.
“In acquiring Kestrel, ASI is one step closer to its goal of 10 percent market share (in the IBD). From what weve learned about growing a niche brand through purchasing SE, Im confident we can take on this new project and grow the Kestrel brand and ASI significantly,” said Patrick Cunnane, president of Advanced Sports, Inc.
Kestrel will remain a unique, innovative road and multi-sport brand that has pushed the envelope in carbon fiber technology. ASI will continue to invest in research on the materials, tooling and performance technology that have built the legacy of the Kestrel brand.
“We are thrilled to acquire such a prestigious brand with a prominent position in the high-end road and triathlon markets,” said Karen Bliss, ASIs marketing manager. “Kestrel has an extraordinary history of innovation in carbon technology-an asset we intend to build on. We know Kestrel fans want to see the brand remain in its position of leadership.”
