Trek Bicycle Acquires US Retailer
WATERLOO, USA – Trek Bicycle has reached an agreement to acquire bike shop chain Bike Line located in the Philadelphia-area. Trek is purchasing twelve of the sixteen locations Bike Line currently operates. Why the remaining four shops are not included in the deal and Trek’s total investment remained undisclosed.
“Trek’s plan is to build on Bike Line’s foundation and will include a deep focus on customer service, product selection, employee education and development, and an increased commitment to local cycling advocacy”, said a Trek spokesman. “Trek has been available at Bike Line shops for over thirty years.”
Trek’s is certainly not the first bicycle brand to take-over of a retail chain but in line with the trend for manufacturers as an alternative or additional route to their own direct-to-consumer investments as Bike Europe reported last year.
“Trek has been a longtime partner and has played a big role in the success of Bike Line,” said Graves. “They have been invested in our success and I wanted to find a partner for the next step in the shops’ future who understands what it takes to continue what we have started and shares our values and passion for cycling.”
“Bike line has built an incredible business over the years through a commitment to great products and great service. They have been a great partner and a committed retailer and when we learned that the owner John Graves was looking for an exit solution, we were open to the idea of ownership,” said Trek’s VP of Retail Joe Vadeboncoeur. “We are very much looking forward to enhancing the cycling experience.”