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JBI acquires Pure Cycles from its founders

Published April 28, 2020

MIAMI (BRAIN) — Florida-based distributor JBI, parent of the distributor J&B, has acquired Pure Cycles, an omnichannel bike brand.

"The deal will better serve the customers of Pure Cycles by adding resources for distribution and operations, and for JBI to add a modern, aspirational cycling brand to its product offering," the company said Tuesday.

Pure Cycles began as Pure Fix Cycles and specialized in sales of fixie bikes online. It has since expanded its product line and sales through IBDs.

"We believe that Pure Cycles is a pioneer in selling affordable bikes both directly to consumers and through some of the best independent bike shops around the globe. We think our 200k+ customers would agree," said Jordan Schau, who co-founded Pure with Michael Fishman. 

Fishman said, "Within JBI, we have an amazing opportunity to help lead a transportation revolution in the U.S. There is a huge demand for affordable, stylish bikes that are distributed through trusted sales channels, and we are seeing this now more than ever.

"We could not be happier to be joining forces with such a great, like-minded company in JBI as we continue our mission to get more people on bikes."

Fishman and Schau will remain with the brand at its Los Angeles headquarters. "Pure Cycles will continue to operate as a stand-alone brand with the distribution support of JBI," Gurdjian said.

"Pure Cycles was founded with one mission in mind: to get more people on bikes. At JBI, we believe cycling can solve many of the world's challenges, and by combining forces, we're hoping to put more people on simple, affordable, awesome-looking bikes," added Gurdjian.

The businesses are currently integrating operations. Pure Cycles will begin shipping from JBI warehouses in May. Pure Cycles was represented by Bell Lap Advisors on the transaction.

J&B, founded in 1971, has more than 400 employees, operates 11 warehouses, and distributes more than 300 different brands, including house brands. 

Pure Cycles' Volta e-bike.
Topics associated with this article: Mergers & Acquisitions

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