BikeBiz Bicycle and cycling retail news
SRAM has acquired the entire range of road and mountain pedals, cleats and all related patents of TIME Sport from the Rossignol Group.
The companies completed the transaction on 18th February. “TIME is a legendary brand and was the first to focus on ergonomics through the pedal stroke,” said SRAM president Ken Lousberg. “We will work to preserve TIME’s history and heritage, and continue their legacy of innovation and quality.”
In a separate transaction, TIME’s bicycle business has been purchased by Cardinal Cycling Group, including all related patents, trademarks and ownership of the TIME’s RTM composites factory. Cardinal Group ownership includes Tony Karklins, founder of Allied Cycle Works and former Orbea USA managing director, and Martial Trigeaud, industrial engineer and former elite bike racer.
“TIME is a brand full of passion, history and true innovation,” said Karklins. “We are honoured to steward TIME into the future and to advance Resin Transfer Molding technology in the cycling industry.”
Scott Rittschof, Rossignol Sr. VP bike division, added: “I’m thrilled that we have found two exceptional buyers for TIME. Each brings unique strengths to drive the great TIME brand forward.”
Both companies will continue to market products under the TIME name. SRAM will focus relevant external communications as TIME Sport, and Cardinal Cycling Group will utilise TIME Bikes. Customers will continue to contact TIME for product service and support during a transition phase through mid-year 2021.
Read the February issue of BikeBiz below:
