BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
January 25, 2022
PodiumRunner gone; now part of Outside Online
PodiumRunner, one of the media brands in the Outside portfolio, is becoming part of Outside Run, a new destination on Outside Online. While much of the content on Outside Run will remain free, premium articles, reviews, and training plans online will be available by joining Outside+. Outside
January 25, 2022
Is the bicycle retailer missing a trick on insurance sales?
When it comes to add on sales most commonly attached to new bikes leaving the show- room it’s generally lights, locks and mudguards that are most commonly listed on receipts. Much further down the list, according to CI.N’s house research on the subject, comes cycle insurance. In fact, our 2021...
January 24, 2022
Consortium announces agreement to buy Accell Group
A private consortium headed by Kohlberg Kravis Roberts & Co. reached a conditional agreement to buy the Accell Group N.V. and take it off the stock market. The group, which includes Teslin Alpine Acquisition B.V., reached agreement on an all-cash offering for its shares for 1.56 billion euros ($1.76 billion)....
January 20, 2022
Peloton Can’t Catch A Break
Peloton continues to struggle following a tumultuous year and revelations of potential layoffs, halted production, and a stock sale by insiders. The company reported a net loss of $372 million in fiscal Q1 2022, a steep increase from the $49.8 million loss in the same period a year prior. Prior to the...
January 20, 2022
Cardinal Cycling Group Acquires Detroit Bikes
Cardinal Cycling Group has acquired the assets of Detroit Bikes, including the brand, inventory and production facility. Zak Pashak, Detroit Bikes founder, will remain a partner in the new company and continue factory management and business development. SGB Media
January 20, 2022
Orbea announces price increases, outlines factors behind changes
In a press release which tackles head on the thorny subject of price increases, Orbea today announced that the brand has been forced to change its prices for this year. Spelling out, in detail, the factors behind the change in pricing, Orbea lists a collection of forces which are now...
January 19, 2022
Kona Bicycles sold to Ohio outdoor group
Kona Bicycles has been acquired by Kent Outdoors, a Ohio-based company that was known until Wednesday as Kent Water Sports. Kent Outdoors owns several outdoor sports and watersport brands, including the Arbor snowboard brand. Kent Outdoors is no relation to Kent International, the New Jersey-based mass market bicycle brand. Bicycle...
January 19, 2022
SRAM acquires Hammerhead, maker of the Karoo 2 cycling computer
SRAM has today announced Hammerhead will join its portfolio of brands, with a transaction which completed on December 30, 2021. Hammerhead will continue to develop its award-winning Karoo 2 cycling GPS computer line, and will remain a stand-alone brand within the SRAM portfolio, allowing the brand to continue to build...
January 18, 2022
Peloton hires McKinsey to review cost structure; cycle maker may cut jobs, close stores
Peloton is working with management consulting group McKinsey & Co. to review its cost structure and potentially eliminate some jobs, CNBC has learned. The possible job cuts were discussed in a recent call with members of Peloton’s management team, according to a recording obtained by CNBC. The apparel division, which has...
January 13, 2022
FitLab Raises $15M, Acquires Fitplan, Ragnar, and Electric
An integrated operating company of performance lifestyle brands, FitLab raised $15M in Series A funding. The funding fuels FitLab's integrated fitness platform. Adding to its new growth capital, the company has acquired digital fitness app Fitplan, adventure running series Ragnar, and action sports brand Electric. Fitt Insider