The owner of Internetstores, the online retailer specializing in outdoor and cycling products, is expanding with the full acquisition of Probikeshop, a French company that describes itself as the leading online retailer of cycling gear in France and southern Europe. Internetstores itself was taken over last year by Signa Holding, the Austrian holding company that controls Karstadt and Karstadt Sports.
Probikeshop was previously owned at 51 percent by Migros, the largest retailer in Switzerland, which acquired its stake in 2001. The remaining 49 percent was in the hands of Olivier Rochon, Probikeshop's chief executive. Both parties sold but Rochon is due to continue leading the French company and will be a shareholder of Internetstores.
Internetstores is the company behind Bikester, Campz, Fahrrad.de, Brügelmann and Addnature, with sales estimated to reach about €55 million in 2016. The company described itself last year as the leading online retailer for bicycles in Europe with anticipated sales of about 150,000 units last year.
With the acquisition of Probikeshop, which reached sales of about €70 million last year, the company said it is operating 35 online stores in twelve languages in 14 countries. Signa said that the two platforms are an outstanding geographic fit, and that they will benefit from significant synergy effects.
The takeover helps Internetstores to move ahead with geographic expansion, since the company's largest markets so far are the German-speaking and Nordic countries. The transaction was agreed at an undisclosed price and is subject to approval by the relevant competition authorities.
Migros is the owner of Sport XX, one of Switzerland's largest sporting goods retailers, among many other assets. It also owns M-Way, a Swiss company specializing in e-mobility. The sale of Migros' stake in Probikeshop comes shortly after Migros opted to open its first bicycle store, Bike World. The deal is supposed to make it easier for Probikeshop to continue expanding in international markets.
Probikeshop was established in 2005 in the French town of Saint-Etienne. It employs about 170 people.
