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Cardinal Cycling Group, the owner of TIME bikes, buys Detroit Bikes

Published January 19, 2022

DETROIT (BRAIN) — Cardinal Cycling Group, a new company formed last year to acquire the TIME bicycle business from Rossignol, has acquired Detroit Bikes.

Cardinal  has acquired assets including the brand, inventory and production facility. Zak Pashak, Detroit Bikes' founder, will remain a partner in the new company and continue in a factory management & business development role.

Cardinal Cycling Group intends to further develop its U.S.-made steel range and expand its urban e-bike offerings.

"From the moment I saw the Detroit Bikes launch video in 2014, I have loved the Detroit Bikes brand. Zak and I became friends over the years as we have been on a similar path of re-shoring bicycle manufacturing, getting more people on bikes and building brands that matter. We are thrilled to take the reins at Detroit Bikes and commend Zak for building a passionate and iconic brand," said Tony Karklins, the CEO of Cardinal Cycling Group. Karklins, an industry veteran, was a co-founder of HIA Velo, the parent company of the Allied Cycle Works brand. Karklins left Allied in 2018.

Pashak said, "It has been an amazing ride over the last decade and I am happy to turn Detroit Bikes over to Tony and his team at Cardinal Cycling Group. The recapitalization of the business along with Cardinal's industry knowledge and connectivity is exactly what Detroit Bikes needs. I look forward to being part of the team and helping take Detroit Bikes to the next level." 

Detroit claims to be the largest steel frame manufacturer in the U.S. In addition to its own brand, the company does bicycle manufacturing and assembly for other brands, including Schwinn and Dick's Sporting Goods.

Topics associated with this article: Mergers, Acquisitions & Investments

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