Hero Cycles acquires Firefox Bikes

Hero Cycles has acquired Firefox Bikes as part of strategy to cement its position in the fast growing premium cycling segment in India. As part of the deal, Firefox Bikes divested their entire equity stake to Hero Cycles in all cash transaction Hero Cycles. The aim is to provide customers with world class products at every price range as per their fast evolving tastes and requirements.

Through this acquisition, Hero Cycles will further expand its presence in all major categories of bicycles in India through its various brands such as Hero Cycles, UT, Firefox and UT Edge. As part of the deal, Hero Cycles has acquired Firefox brand of cycles, accessories and spares along with exclusive distribution rights of ‘Trek’ and other global brands.

Both companies have mutually agreed that Firefox Bikes will continue to have its distinct brand identity and remain a separate business entity post the acquisition. This deal will also help Firefox to expand its marketing visibility and acquire an aggressive approach in reaching out to our prospective customers.

The premium cycle segment in India has been growing at 25% CAGR over the past many years. It has emerged as one of the fastest growing segments in the market by closing sales of more than two lakh units a year. Currently, the company sells over 70 different models of Firefox bikes and 25 Trek Models through a network of 160 companies owned and franchise outlets. It also has tie ups with international brands such as Tern, Shimano, Saris, Finish Line, Kryptonite, Super-B and Slime.