Following our story last Friday about Tandem buying Two Wheel Trading, TWTs MD Steve Wassell yesterday faxed us his official company line on the buyout

Two Wheel Trading responds

And here it is:

Commenting on the recent announcement of the agreed but conditional sale of Two Wheel Trading Co. to Tandem Group plc, MD Steve Wassell said:

Two Wheel Trading Co. Limited is a successful established business, which enjoys a good reputation in the cycle industry. Over recebt years we have enjoyed very good growth in our business and have invested heavily in the infrastructure of the company in order to pave the way for the future.

However, the leisure lifestyle market and cycling in particular is both dynamic and fast moving. And whilst we have an excellent customer base, strong brands and a loyal and ambitious team around us, Andy [Wassell] and myself feel that for the maximum potential of the company to be realised, having access to greater resources will be invaluable.

As part of a growing sports and leisure group such as Tandem Groip plc we believe we can achieve substantial growth in the medium term.

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