The industry insider magazine Bikebiz dropped some big news on their website today. According to sources, the retail supergiant Chain Reaction Cycles is set to be brought by rival mega online store Wiggle. Here is the news from Bikebiz.
“BikeBiz believes Wiggle is on the verge of absorbing its main retail rival Chain Reaction Cycles. It’s said to be highly likely that the sale will go through next week, multiple sources say. Founded in 2009 as an offshoot from a Portsmouth bike shop, Wiggle grew and grew, and was sold to Bridgeport Capital for £180m in 2011.