Tue, 08 Aug 2017 | BUSINESS SALE
Upscale British cycling brand Rapha is set to be sold to a private equity firm run by two members of the Walmart dynasty in a deal expected to be worth £200 million.
Rapha, which was founded by branding consultant Simon Mottram in 2004, announced early this week that it had reached an agreement with RZC Investments, a firm run by Steuart and Tom Walton, grandchildren of Walmart founder Sam Walton.
Though Mottram will remain on Rapha’s books as chief executive, he is believed to be willing to sell his personal £25 million stake in the business.
Walmart’s bid is expected to beat other offers for the £200 million cycle gear maker, including one of the largest shareholders in Aston Martin, Investindustrial, and Invus, an investment group which used to own Weight Watchers.
Mottram described the impending RZC bid as "an exciting day for Rapha".
He added: "[The bid] means we can pursue our mission to elevate cycling as a global sport and recruit more participants by engaging them and enabling them to ride with us at all levels.”
Rapha has expanded rapidly since its founding, selling through 20 websites and shipping cycling equipment to more than 100 countries, all the while operating 17 “clubhouse” retail sites in major cities around the world.
Recent accounts state that Rapha has more than 200,000 active customers and 450 employees, with annual revenues running to £63 million in 2016.
The company’s products include everything from £20 “embrocation cream”, designed to redirect blood back into your lower extremities by stimulating veins – to expensive bespoke holiday tours to the alps.
Search retail businesses for sale
Subscribe to Business Sale Report here
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...
Food Service Businesses: Fish & Chip Shops. Established, high turnover traditional Fish and Chip and hot food takeaway operating from busy parade location, Bath. Offers invited.
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources