Wiggle and Chain Reaction Cycles have announced their merger. Wiggle, based in Portsmouth, in the U.K., is an international online retailer selling cycling, running, swimming and triathlon products. The company serves customers in more than 70 countries. Chain Reaction Cycles (CRC) is an online bike store based in Doagh, Northern Ireland.
Wiggle is owned by Bridgeport Capital, an investment firm. CRC was founded in the 1980s, when George and Janice Watson opened Ballynure cycles in Northern Ireland. Since then, the company has been run by the Watson family. In 2013, Wiggle's sales topped £168 million (€212.9m-$233.7m), while CRC's sales stood close to £145 million (€183.7m-$201.7m).
The two companies said the transaction is subject to a number of regulatory approvals, including merger control clearance by the Competition and Markets Authority (CMA).
