Report: Frasers Group owned by Mike Ashely acquires WiggleCRC for under £10 million

The Times has reported that Mike Ashley’s Frasers Group has acquired the WiggleCRC brand. According to the report the sale has been made for less than £10 million.

The brand's future was thrown into uncertainty in October of last year when the company went into administration, owing £26.7 million in unpaid debt to 400 creditors. Since then there have been numerous reports about potential interest from multiple parties regarding the acquisition of the cycling retailer.

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The Times has also reported that the Frasers Group has acquired the brand’s intellectual property. This means that the in-house brands of Vitus Bikes, dhb, and Lifeline will be included as part of the takeover.

Although the certainty around the future of the brand is still far from secure this is a breakthrough step for the cycling retailer.

In 2018 the Frasers Group acquired high-street cycling retailer Evans Cycles for £8 million. However, it was reported that after this takeover in 2021, more than 300 employees were made redundant as part of restructuring.

In 2023, Frasers Group also acquired the online retailer ProBikeKit, and the German chain SportScheck, owned by the same parent company as WiggleCRC.

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