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ASI Purchases Breezer

Published September 23, 2008

PHILADELPHIA, PA (BRAIN)—Advanced Sports, Inc. (ASI) has purchased Breezer bikes. The purchase includes all assets and trademarks of the Breezer bicycle brand as well as an agreement with Joe Breeze for consulting services on new projects and designs.

An icon in the industry, Joe Breeze, of Marin County, California, began building road racing frames in 1974. In 1977, he designed and built what are considered the first modern mountain bikes, called Breezers. Along with Gary Fisher, Charlie Kelly and Tom Ritchey, he helped create the mountain bike market and develop its early products. Joe’s influential Breezer mountain and road bikes of the 1970s through the ‘90s are coveted by fans worldwide.

A lifelong advocate of bicycle transportation, Joe has for the past ten years focused his work exclusively on promoting greater use of bicycles in everyday life. He launched a line of Breezer transportation bikes in 2002 and is currently a market leader in this segment.

Advanced Sports, Inc. is a marketing and distribution company, that was formed in 1998 to purchase the Fuji brand. Based in Philadelphia, ASI has since purchased the SE (2002) and Kestrel (2007) bicycle brands.

Advanced Sports, Inc. recognized the strong brand position of Breezer bicycles in the fast-growing transportation market. ASI will help Breezer meet its market demand by providing capital and, with its manufacturing alliance with Ideal Bicycle Corp. (a minority shareholder of Advanced Sports, Inc.), ASI is confident it can dramatically expand Breezer’s distribution in the U.S. and internationally.

Joe Breeze will continue to promote the Breezer brand and will work with ASI on the expansion of the product line. In addition to growing the transportation portion of the line, Breezer will re-introduce Joe Breeze mountain bikes.

“I’ve admired Joe Breeze ever since 1982 when I was working on mountain bike development at Ross,” said Patrick Cunnane, president of Advanced Sports. “I studied everything Joe was doing because he was the undisputed leader in mountain bike design.”

“Joe is a pioneer—he introduced great mountain bike products in a market that wasn’t ready—and, for the last ten years, he has again been creating a new market in the U.S. for transportation bikes,” Cunnane added. “Like Joe, I know this is the most important segment of the market to continue to develop. Between gas prices, obesity issues and traffic congestion, transportation bikes—Breezer transportation bikes—are the right products for now and in the future.”

Joe Breeze commented, “I’m very excited to join Advanced Sports. Our agreement will allow me to focus on design and advocacy. Riding bicycles for transportation creates a wonderful path to a better world. As popular as mountain biking has become, I see everyday bicycling as having exponentially greater potential.”

Industry consultants Bill Fields and Associates LLC represented Breezer Bikes in the transaction.

Topics associated with this article: Mergers, Acquisitions & Investments

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