Merger Wiggle and Chain Reaction Approved
PORTSMOUTH, UK – The merger of Wiggle and Chain Reaction Cycles is expected to complete shortly following clearance from the Competition and Markets Authority. Together the combined business will have revenues in excess of 253 million euro.
In a joint statement both companies point out that they “want to create an even more compelling customer proposition, retaining the brands and websites of each business, while seeking to extend its product range, over a stronger, well invested platform and infrastructure.”
New company name
The corporate name of the newly formed group company will be called WiggleCRC and will be chaired by Brian McBride and managed by Stefan Barden, as Chief Executive Officer. Chris Watson, currently Managing Director of Chain Reaction Cycles, will sit on the board and will be a significant shareholder.
Stefan Barden, Chief Executive Officer of Wiggle and Chris Watson, Managing Director of Chain Reaction Cycles, said: “Together, Wiggle and Chain Reaction Cycles’ first class team of sports enthusiasts and strong heritage and expertise in cycling, running, swimming and tri-sports, will form the foundations for building a global champion.”