Bicycle Retailer has reported that Santa Cruz Bicycles has bought out Swobo founder Tim Parr’s remaining minority share to take 100% ownership of the brand.
Parr said the two sides were working on “tweaking his role†where he would have stayed on board, but at the end of the day Parr decided the role just didn’t fit his aspirations and goals.
“I made a personal decision [to leave] on top of [the business decision that was made by Santa Cruz Bicycles],” Parr said. Parr added that he had a “good working relationship†with Santa Cruz Bicycles owner Rob Roskopp.
Santa Cruz Bicycles originally bought the company in 2001 from Parr. Swobo’s original founder Parr stepped back into the picture in 2004 as a minority owner. Swobo was founded in 1991 by Parr.
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