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Derby-based distributor Moore Large & Co Ltd has announced the successful completion of a management buyout.
The cycling distribution business was acquired today, 19th April, by its current board of directors Dale Vanderplank, Adam Garner, Adam Biggs and Andrew Walker.
Moore Large offers a wide portfolio of cycling and cycling related products, has its own successful in-house brands and represents some of the biggest global brands in the market.
The management quartet will take full shareholding of the company from the Moore family, who founded and have owned the business since 1974. Retiring chairman Nigel Moore brings to an end three generations and 75 years of Moore family involvement in the bicycle business.
“After more than 25 years leading the company, I’m excited to be retiring and entering a new phase in my life,” said Moore. “The last few years at Moore Large have been particularly successful and it is now the right time for me to hand over the company to the existing management team.”
He added: “The company is in excellent shape and has limitless opportunities with development of proprietary brands Forme and ETC and as being UK representative for many premium global brands. The new owners will enjoy fantastic support from a world-class workforce, and I am confident together, they will enjoy great success.”
The board of directors have over 50 years of cycling industry experience and has already embarked on a company-wide review of its activities, becoming the driving force behind business expansion over recent years.
Vanderplank, Garner, Biggs and Walker will continue to head up the management structure to ensure future goals and aspirations are met, but also to offer continuity for Moore Large’s stakeholders.
The board said: “We are all delighted, excited, and ready to lead the business in what is set to be the best time for the bicycle and active travel sectors. The market has grown, the investment in infrastructure is increasing, and sustainability for all our futures is a major part of the country’s greener plans.
“The company is in great shape, the anticipated growth and future investment in our own brands Forme and ETC will remain the cornerstone of our plans, complimented by globally recognised brands and products from the likes of Tern, Oneal, Jagwire, WeThePeople and Lake to name a few, all backed by our passionate team of employees.
“For our loyal customers, suppliers, and staff the acquisition has been clearly articulated to ensure a continuation to the ‘business as usual’ approach.”
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The transaction has been backed by Moore Large’s incumbent bank HSBC, which has worked with the company for multiple decades. The bank has structured the funding proposition to drive future success as the business evolves.
Graham Brown, relationship director at HSBC UK, said: “The demand for sustainable travel has increased heavily in the last few years, with cycling also offering many health benefits.
“We’re proud to be supporting the UK’s largest family-owned bicycle distributor with this buyout and its growth plans to drive demand for bikes around the country and help people make the switch to cycling.”
