NEW BRUNSWICK, Quebec (BRAIN)—Barrett Corporation, a privately held international management Company, has become the majority shareholder in Cycles Lambert.
Roynat Capital now retains a significant minority interest in Cycles Lambert.
Michel Ruest, director at Roynat Capital said, "Since our acquisition of Lambert in December 2006, we have been looking for an alliance with a company having an expertise in the distribution segment so as to bring Lambert to the next level. The fit with Barrett was perfect as Roynat has been a Barrett shareholder for several years. Barrett's acquisition is the fruition of Roynat's long-term plan for Lambert."
The acquisition is a testament of how Lambert's values, reputation and market-driven growth are aligned with Barrett's strategic vision.
"From the start, we were impressed by the entire Lambert team and the service it renders to both Canadian independent bike dealers and worldwide suppliers," said Ed Barrett, co-chief executive officer of Barrett Corporation. "The more we looked at Lambert, the more we saw the potential for future growth across Canada. Our goal is to maintain Lambert's reputation as Canada's go-to source for bicycle P & A and to leverage even further its core strengths in service and brand distribution."
"We are very pleased to be on board with Barrett," said Sylvain Caya, general manager at Lambert. "This past year, Lambert has made significant inroads as IBD's go-to source for bicycle P & A across Canada. Having Barrett's senior management team on our Board of Directors will inject both visionary and strategic growth expertise as we develop and execute our long-term growth plan."