BikeBiz Bicycle and cycling retail news
The sale of Syncros to Tom Ritchey was announced at the Sea Otter cycle festival in California at the weekend.
"When I heard about Pacific buying [Schwinn/GT, owner of Syncros] but focusing on the bike lines I immediately put the word out. It was just a matter of figuring out a deal," Ritchey told bicycleretailer.com.
"We are already working on a number of products. We will make an authentic reentrance to the market."
Pacific Cycle has recently completed the compilation of ‘the book’, the gathering together of its financial reports and USPs, in order for venture capitalist firm Wind Point Partners, which owns 43 percent of Pacific, to realise its investment.
This large chunk of Pacific has been up for sale for some months. In the meantime the company has asquired InStep, a US stroller and trailer supplier, but pulled out of the running for the purchase of Cannondale.
