Wiggle Bike Shop Sells for £180million

Leading online cycling store, Wiggle has been sold for £180million after just over a decade of business. 

wiggleLeading online cycling store, Wiggle has been sold for £180million after just over a decade of business.

Private equity firm ‘Bridgepoint’ snapped up the majority stake; a company which is chaired by ex-Asda boss Andy Bond.

The firm say they plan to expand the store to a global scale to take advantage of the £25billion cycling market.

It is estimated that the store currently has a 600,000 strong customer base and generates around 50% of its income overseas, however Bridgepoint think there is much room to expand.

Vince Guilliam, a spokesperson for the firm said, “Wiggle is benefiting from strong structural market drivers such as the shift to online retailing combined with the trend towards fitness and health and the increasing popularity of cycling.”