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Meineke: We want to be a top-5 supplier

Published April 26, 2012

WASHINGTON, DC (BRAIN) Thursday April 26 2012 9:55 AM MT—Raleigh America president Steve Meineke said the brand's acquisition by Accell Group will allow it to return to the top tier of U.S. bike brands.

Raleigh dueled with Schwinn for primacy in the U.S. market in the 1970s and '80s, but today is likely just inside the top-5 in U.S marketshare, according to some industry estimates.

But the brand has established strength in several niches and, perhaps more importantly, is focused on rebuilding loyalty and trust with its dealers, Meineke said.

"I think we've established under Raleigh Cycle Group some really positive momentum with Raleigh and Diamondback bicycles in the U.S. market," Meineke told BRAIN on Thursday.

Raleigh's Steve Meineke (left) on Thursday with retailer Mike Hamannwright of Revolution Cycles in Washington DC. Photo: Marc Sani

"Accell will provide us with increased strength to stay focused on our key initiative, which is to build the brands and work for the success of our dealers."

Meineke said he wasn't aiming to join the "Big Three" U.S. brands (Trek, Specialized and Giant) as overall bike marketshare leaders.

"I don't think we have that in mind so much as being a top-five supplier that is super reliable, that is a great dealer brand and a company that people want to do business with," he said.

Accell already owns Seattle Bike Supply and California-based electric bike maker Currie Technologies. Meineke said it's too early to say how those brands will work together.

"We look forward to working with them," he said.

Meineke, who is also general manager of Raleigh Canada, said he expects no changes to his role within the company.

"My position won't change and our our management team will remain fully intact," he said.

Steve Frothingham

Topics associated with this article: Mergers & Acquisitions

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