India’s Hero Cycles acquires UK’s Avocet Sports Ltd.
Hero Cycles entered into an alliance with Avocet Sports Ltd, a leading distributor of bicycles, e-bikes, bicycle parts and accessories in the UK. The Indian cycle manufacturer has acquired a majority stake in the Manchester based company for an undisclosed sum, marking the company’s first international acquisition.
Avocet Sports Ltd is among the top three players in the UK having alliances with other leading retailers such as Tesco, Halfords, ASDA, Shop Direct and Amazon and most recently Hero Cycles. Avocet has over 20 years of experience in the cycle industry with a model in each portfolio catering to the demands of customers in that segment.
The company range extends right from children’s bikes to hybrid and folding bikes, road and e-bikes, mountain bikes, BMX and roadsters. Leading brands include Viking, Coyote, Rooster, Ryedale, Lectro, Concept and Riddick. The alliance with Avocet Sports Ltd is an exciting prospect for Hero Cycles allowing the company to extend its markets, combine its strengths and offer world class products to buyers across UK and continental Europe.
Hero Cycles Limited, incorporated in 1956, is the largest cycle manufacturer by volume across the globe. The company conducts its production operations from its three plants in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP) with combined capacities of 7.5 million bicycles per annum. Hero Cycles commands a market share of 35 percent and exports its products to Middle East, Africa, Asia and Europe.