After having multiple bidders prolong the original bankruptcy reorganization plan, a new owner has emerged for Niner Bikes. UWHK Limited, which also owns several other cycling brands, has finalized the purchase of Niner Bikes and will keep the brand’s Fort Collins, CO, team and building in place. We’ll have a more in depth interview with co-founder and president Chris Sugai, soon, for more details. In the meantime, press release follows:
PRESS RELEASE: (FORT COLLINS, Colo.) March 9, 2018 – UWHK Limited, formerly Emersion International, announced today it finalized the purchase of Niner Bikes. The acquisition includes an accelerated global expansion plan for the premium off-road bicycle brand. Niner is expected to gain market share through independent bicycle dealers and international distribution.
Chris Sugai continues as president of Niner Bikes, located in Fort Collins, Colorado. “We are in-step with the vision and fast-track global plans for Niner. Our leadership team and culture, which are synonymous with our brand, will be maintained,” explains Sugai. “UWHK’s support allows the dedicated team at Niner to keep producing high quality bikes.”
“I got into this business because of my passion for all things cycling and I’m glad we can get back to making awesome bikes,” adds Sugai. “Supporting riders and giving back to the riding community will continue.”
UWHK Limited is an investment firm in premium global outdoor brands and a division of United Wheels Limited. United Wheels is the majority shareholder in Huffy Corporation and owner of Allite, Inc. and VAAST Bicycles, to be launched later in 2018. Each company, including Niner, maintains separate operations.
“Acquiring Niner represents important opportunities for UWHK and Niner,” states Bruno Maier, Managing Director of New Business. “With UWHK’s support, Niner can focus on quality off-road product R & D and effective strategies to maximize gains.”
“UWHK recognizes the short-term and long-term potential of this acquisition. Chris Sugai has the right team in place to accelerate Niner’s growth and ultimately, to increase global market share”, continues Maier.
Financial details of the sale were not disclosed.
UWHK (formerly Emersion International) is a global holding company of outdoor brands owned by United Wheels. UWHK seeks high-end outdoor companies and brands to add to its portfolio of Huffy Corporation, as well as Allite, Inc., and VAAST Bicycles, which will be launched later in 2018.
Niner Bikes was founded in 2004 to focus on the needs of the 29-inch mountain bike revolution. Since then, it has diversified its offering to other wheel sizes as well as other cycling disciplines in the off-road segment.