News from Bikebiz today is that these two competing giants of the bike retail world are set to become one as Wiggle moves to buy Chain Reaction Cycles.
Chain Reaction Cycles was born in 1989 as a small bike shop in Ballyclare, Northern Ireland with a £1500 bank loan and remains family owned by the Watsons.
Wiggle Ltd. company records date back 24 years and was sold to Bridgeport Capital for £180m in 2011.
Bikebiz reports that the Watson personal fortune is valued at £200 million.
40% of CRC’s business now comes from outside the EU.
This is a breaking news story – More details as it comes in