Acquisition of Boardman Bikes will shift gear at Halfords
Thursday 05 June 2014
Halfords took its credibility in the cycling world up a gear with the acquisition of Boardman Bikes, the bicycle brand chaired by Olympic gold medallist Chris Boardman.
The company was launched by Boardman, who sported the Tour de France's yellow jersey in 2007; a host of Olympians, including cyclist Nicole Cooke and triathlete brothers Alistair and Jonathan Brownlee, have taken to its saddles.
Halfords has been selling its products – primarily its Performance series of bicycles, worth up to £1,500, since Boardman Bikes' inception in 2007. Its Elite series of £2,000 to £5,000 bikes, ridden by Olympians, is only sold at independents. It is understood this bar will remain in place.
The bikes-to-car-parts retailer, endorsed by Boardman and Olympian Victoria Pendleton, will no longer have to pay a royalty to Boardman and further investment is expected to be made into developing new bikes, following the deal.
Boardman will continue to be chaired by its namesake, who said: "This step will take the brand to the next level and Halfords' backing will allow us to develop further and extend our award-winning cycling ranges." Matt Davies, the retailer's chief executive, praised it as one of the "fastest-growing and most successful brands in UK cycling".
Halfords last month reported that a 19.4 per cent surge in bicycle sales last year had helped grow profits 1.1 per cent to £72.6m.
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Japanese island overrun with cats after population explodes
- 4 Apple and Google users being spied on for a decade because of 'Freak' security flaw
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
Bubonic plague-carrying fleas found on New York City rats
London property boom built on dirty money
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...