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Vittoria Buys BikeMine

Published April 21, 2008

OKLAHOMA CITY, OK (BRAIN)—BikeMine has a new owner. Vittoria Industries has bought its American distributor creating a new company, Vittoria Industries North America.

The change in ownership will have no impact on BikeMine’s aftermarket sales to retailers or with QBP, the only distributor authorized to sell Vittoria and Geax tires, said Ron Dougherty, BikeMine’s general manager.

Dougherty, a 13-year veteran at BikeMine, also said there will be no change in the company’s day-to-day management or in its dealer-direct sales. “We will continue to focus on BikeMine’s operations,” he added. “This is a big deal for us, to be bought by a large global operation like Vittoria. You don’t get better than that,” he said.

Ray Hibdon, BikeMine’s owner, will stay with the company and will have a seat on Vittoria’s board. BikeMine has distributed Vittoria tires since 1993. It later added Geax, Vittoria’s mountain bike tires, to its line. The company currently distributes Selle San Marco, BBB, a Dutch line of parts and accessories, Master Lock, Echo cycling computers, Eload, a hydration drink, and a line of blue tooth headsets.

Tom Petrie, Vittoria’s OEM sales agent, said the move would benefit smaller bicycle manufacturers, particularly in Canada, who spec Vittoria road tires on their bikes. Currently, those companies pay to have tires shipped from Vittoria’s factory, Lion Tyres, near Bangkok, Thailand.

Under the new company, Vittoria will ship tires in bulk to its warehouse in Oklahoma City and then ship them to customers in Canada and elsewhere, trimming shipping costs, Petrie said.

Vittoria Industries North America, LLC (VINA) will combine the substantial international resources of the Vittoria Group together with the distribution strengths of BikeMine, a Vittoria spokesman said.

The company plans to invest in the organization and its resources to increase its presence, activities and services in North and South American markets, he added.

Topics associated with this article: Mergers & Acquisitions

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