Pacific Cycle
 |
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Bicycles |
| Founder | Chris Hornung |
| Headquarters | |
| Parent | Pon Holdings |
| Website | pacific-cycle |
Pacific Cycle, Inc.,is an American division of DutchconglomeratePon Holdingsthat imports and distributesbicycles.It was founded in 1977 by Chris Hornung. The company pioneered the sourcing of bicycles from the Far East for distribution in the U.S., developing relationships with suppliers primarily in Taiwan and China.[1]The company now owns several well known bicyclebrandsas well as diversifying into bicycle accessories and other types of children's play equipment.[2]Pacific Cycle sells more bicycles than any other company in North America and is one of the most prolific bicycle suppliers in the world.[3]In 2006, Chris Hornung left Pacific Cycle leaving President Jeff Frehner in control.[4]Alice Tillett has been the President of Pacific Cycle since 2008.
The company headquarters is located inMadison, Wisconsin,with a corporate branch office inOlney, Illinois(the former home ofRoadmaster). They also operate distribution centers in Olney, Illinois,Vacaville, California,andRancho Cucamonga, California(formerly ofPTI).
History
[edit]In 1998, Chris Hornung reached an agreement with Wind Point Partners giving the private equity investment firm a controlling interest in Pacific Cycle.[4]
In December 2000, with new resources from theWind Point Partnersdeal, Pacific Cycle acquired the bicycle division ofBrunswick Corporationfor $60 million, obtaining control of theMongooseandRoadmasterbrands. This also gave Pacific Cycle access toWalmart,who was the second largest retailer of bikes and to whom Brunswick was the largest supplier.[5]Mongoose had maintained a strong reputation for quality and performance, particularly among younger BMX enthusiasts. Pacific Cycle brought Mongoose into the mass-merchant channel at Walmart.[1]
In 2001, Pacific Cycle outbidHuffyCorp. in bankruptcy court for the purchase of the Schwinn/GT Corporation, obtaining control of theSchwinnandGTbrands for $86 million.[6]In 2002, Schwinn was introduced to the mass-merchant channel at Walmart,Target,andToys "R" Us.[1]
On March 17, 2003, Pacific Cycle acquired InStep L.L.C. for an undisclosed price. InStep is a marketer and distributor of jogging strollers and bicycle trailers. Pacific financed the purchase through company earnings and the price was not disclosed.[7]
In 2004, Pacific Cycle was acquired by Dorel Industries from Wind Point Partners for $310 million, acquiring Wind Point's 43 percent stake.[8][9]Under Dorel's Recreational/Leisure product segment, the Pacific Cycle division (PCG internally) deals with the mass merchant and sporting goods channels while the Cycling Sports Group (CSG) division deals specifically with the Independent Bicycle Dealers (IBD) channel.[10]U.S. distribution channels include mass-market retailers such as Walmart, Target,Kmart,Searsand Toys "R" Us as well as sporting goods chains such asDick's Sporting Goods,Academy Sports andDunham's Sports.Canadian distributors includeCanadian Tire.
In 2005, Pacific Cycle started importing electric scooters and marketing them under the Schwinn Motor Scooters name.[1]Sales ceased in approximately 2011.
In June 2008, Pacific Cycle acquired the assets of PTI Sports LLC (Protective Technologies International), a leading U.S. designer, manufacturer, and distributor of bicycle parts, helmets, and other accessories, for $28 million.[11]
In July 2009, Pacific Cycle acquired the assets ofIron Horse Bicyclesand obtained control of the brand.[12]
In October 2021, parent company Dorel Sports was sold to DutchPon Holdings.[13]
References
[edit]- ^abcd"Pacific Cycle Group".Pacific Cycle.
- ^"Pacific Cycle Group".Pacific Cycle.
- ^"Pacific Cycle Group".Pacific Cycle.
- ^ab"GenesBMX: Message: Pacific Founder Hornung Exits After 29 Years".Archived fromthe originalon 6 January 2013.
- ^"Wind Point Portfolio Company Pacific Cycle Announces Acquisition of Brunswick Corp. (NYSE: BC)... -- re> CHICAGO, Jan. 2 /PRNewswire/ --".Archived fromthe originalon 2015-12-22.Retrieved2012-08-28.
- ^"Pacific Cycle buys Schwinn/GT".bizjournals.com.September 11, 2001.Retrieved2018-10-10.
- ^Mader, Becca (May 18, 2003)."Shifting into high gear".bizjournals.com.Retrieved2018-10-10.
- ^"Media Advisory - CIBC World Markets acted as exclusive financial advisor to Wind Point Partners with respect to the sale of Pacific Cycle LLC for US$310,000,000 to Dorel Industries, Inc".CIBC World Markets. January 13, 2004. Archived fromthe originalon March 4, 2016.Retrieved2018-10-10– via PR Newswire.
- ^"News".
- ^"Dorel - Corporate Profile".www.dorel.com.
- ^"Article".milwaukee.bizjournals.com.2008.
- ^"News".
- ^"Pon becomes biggest in bicycles with Dorel Sports take-over".bike-eu.com.2021-10-11.Retrieved2021-10-11.
