LAGUNA HILLS, CA (BRAIN)—Madison has secured the purchase of the Saracen brand and all the related intellectual property.
Saracen will continue to trade as normal until the end of March 2009, and then will bring business to a close. More than a million Saracen bikes have been sold in the UK since the 1980s and the company has been at the forefront of the UK mountain bike scene boasting team riders such as Steve Peat and Rob Warner. Saracen is a well-recognized bicycle brand in the UK and has a place in the hearts and minds of consumers and many retailers alike.
Madison aims to recapture the essence of the earlier pioneering days of Saracen and develop a strongly recognized brand for the independent bicycle retailer. The purchase of the brand is only the start of a major new investment program from Madison, including building a new design team with an emphasis on engineering, technical excellence and customer support. Saracen will also benefit from Madison’s ability to provide stock support and credit lines for its customers.
Madison is an experienced developer of strong UK-specific bicycle brands for the independent bicycle retail sector. Saracen is the ideal stable mate to sit alongside of Madison's other bike brands—Ridgeback and Genesis. With the addition of Saracen, Madison will be able to provide a more complete bicycle offering for the IBD to cover the needs of an ever-increasing range of end consumers.
Madison already operates its bicycle business as a separate entity, managed independently from its core component and accessories business with separate management, marketing and design and field sales team which will now be grown to accommodate the Saracen brand.
“We have been looking to acquire a bike brand for some time and Saracen presents us with the best opportunity," said Dominic Langan, chief executive officer of Madison. "With the energy, focus and investment that Madison brings we expect the brand to go from strength to strength.”
Rick Stanforth, chairman of Saracen, said. “Twenty-three years and over a million bikes is a phenomenal achievement. What pleases us most is that we are handing Saracen over to an organization that is incredibly well placed to further develop the brand. It’s been a huge part of our lives and we’re looking forward to watching the brand continue to grow during the next stages of the brand’s ongoing development.”
It's Madison’s aim to launch the all-new Saracen range for 2010. Warranty and support for all current Saracen bicycles should be directed to Saracen Bikes until March 31, 2009.