FORT COLLINS, Colo. (BRAIN) — Niner Bikes has been acquired by investment company Emersion International Limited. Chris Sugai, co-founder of the brand, will remain as president and there will be no change to the Colorado-based team or the international distribution network, the company announced.
“We had been looking for an investor that would allow us to take advantage of what we’ve built as a company while providing the resources to maintain our competitive edge,” Sugai said in a press release. “EIL is a great fit for us because it recognizes our future potential and will enable us to operate independently.”
Sugai told BRAIN on Tuesday morning that the sale closes in two to three weeks and he couldn’t say anything more until then. “I’ll have a lot more to share after we close,” Sugai said.
Niner currently has 31 employees, all located at the Fort Collins headquarters. No changes are planned for the Fort Collins team or its independent bicycle dealer and international distribution network, the company said in the release.
“Our long-term growth strategy requires a partner with the resources to invest in R&D and better serve our customers and riders. We strongly believe in the growth opportunities in the …read more