Italian saddle and accesories maker Selle Royal S.p.A. has completed its merger with peddal maker crankbrothers, inc.
This deal added crankbrothers to Selle Royals group of premium cycling companies which include fizi:k, Brooks, and Selle Royal.
“Crankbrothers has always been a very distinctive brand, with great people, strong distribution, and a unique focus on design,” said Massimo Losio, Managing Director of Selle Royal. “The team at crankbrothers has demonstrated their ability to create and grow an authentic brand. The
company has enormous potential, and is an excellent addition to Selle Royal.”
company has enormous potential, and is an excellent addition to Selle Royal.”
Crankbrothers partners Andrew Herrick, Carl Winefordner and Frank Hermansen are now shareholders in Selle Royal. Herrick joined Selle Royals board of directors. He continues to operate from the Laguna Beach design center and now reports to the Selle Royal board in Italy.
Winefordner and Hermansen will also remain in Laguna Beach to focus on product design. Both companies felt the timing and chemistry was a good fit.
“Selle Royal has an incredible authenticity and heritage. They are an amazing team, very much in line with us culturally,” expressed Herrick. “Selle Royal understands the importance of design and shares our vision that the industry is fast becoming equal parts innovation, luxury and lifestyle.”
Crankbrothers will remain based in their design center in Laguna Beach, California and the existing management team and staff will remain in place. The Laguna Beach location will complement Selle Royals factory and design development center in Pozzoleone, Italy.
Consistent with Selle Royals philosophy, crankbrothers will remain a unique entity within the group.
“Things arent going to change for the sake of change, but the future will take a new evolutionary path that it wouldnt have been able to otherwise,” said Herrick.
Losio agrees, “Were not looking for synergies, nor is this some type of consolidation. Were looking to grow these wonderful, genuine companies independently yet as a collection of brands that have strong
relationships with and a passion for their customers.”
relationships with and a passion for their customers.”
This is a similar strategy to Selle Royals addition of the storied Brooks England company in 2002. Selle Royal management retained Brooks original factory in Birmingham, England, as well as its people and its historic integrity, while restoring the brand to its former glory and finding new audiences for Brooks products around the world.
Crankbrothers products will continue to be available through its USA distributors. As part of this merger, crankbrothers products will also be available in the US market through HighwayTwo, the sales and distribution company co-owned by Selle Royal and Continental.
Crankbrothers international distribution does not change.
