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Article: Dorel moves into UK bicycle market - Latest transaction in line with plan to grow bike business into global force.
- Article from:
- PR Newswire
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EXCHANGES TSX: DII.B, DII.A
MONTREAL, Oct. 1 /PRNewswire-FirstCall/ -- Dorel Industries Inc. (TSX: DII.B, DII.A), today announced it has acquired assets of UK-based Hot Wheels and Circle Bikes, UK's preeminent distributors of the Mongoose and GT brands. This latest purchase is in line with Dorel's aggressive growth strategy of its Recreational/Leisure segment and is the third transaction in just two months. In parallel with this deal, a new subsidiary, to be known as Cycling Sports Group UK (CSG UK), is being created to drive the future growth of Mongoose and GT. CSG UK will be dedicated to the Independent Bike Dealer (IBD) channel.
Hot Wheels has a ...