Wiggle Chain Reaction avoids disappearing with a new owner

The collapse of the Wiggle Chain Reaction group of stores and manufacturers has been one of the most relevant news in the international cycling market in recent months, but just when its disappearance seemed imminent after the massive layoffs in recent months, it has just been announced that Frasers Group has bought the business for less than 10 million pounds.

Frasers Group will be the new owner of Wiggle Chain Reaction

Frasers Group is a British group with a large number of brands in its portfolio, of which SportDirect, Evan Cycles, or GAME may be more well-known outside the UK. For months, there had been rumors about their name as the future buyer of WiggleCRC, but it wasn't until last week when the newspaper The Times reported that both parties had reached an agreement for less than 10 million pounds.

In the agreement, Frasers Group would have bought all the brands and intellectual property of WiggleCRC, which includes the own bike brands Vitus and Nukeproof, along with component and equipment brands like dhb, Prime, and Lifeline.

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After the agreement, none of the parties have made any statements, but last December the CEO of Frasers Group, Michael Murray, declared that the company's ambition was to become the leading retailer in EMEA (Europe, Middle East, and Africa) through mergers and acquisitions. Something that fits perfectly with this first move and that will have to be seen how it continues to develop over the next years.