LONDON (BRAIN) — Head Group has acquired the London-based cycling apparel brand Le Col from Puma Growth Partners, which has invested at least 14.4 million pounds ($19.5 million at today's exchange rate) in the brand since 2018.
Head Group owns brands in wintersports, racket sports and watersports, including Tyrolia, Mares, Aqualung, Zoggs, SSI and rEvo.
Head-branded bikes are produced and sold under license by a Czech Republic company and have been sold in the U.S. by Cycle Force Group. Head Group also made a bid to buy ASE, the bankrupt parent company of Performance Bicycle and distributor ASI, in 2019, but the purchase was not completed.
Head said the Le Col purchase represents the expansion of its sportswear and apparel division based out of Milan, Italy.
Rupert West, the managing director of Puma Growth Partners, said, "We are pleased to have exited Le Col to such a strong counterparty and believe HEAD will be a superb custodian of the Le Col brand going forward."
Yanto Barker founded Le Col in 2011. A purchase price was not disclosed.
