Wiggle is to acquire its competitor Chain Reaction Cycles to create an online sports business with sales of £300 million creating serious competition for Halfords. Both of the merging businesses launched with offerings for the “serious” cycling market from single shops and each has evolved online to serve a broader range of sports including distance running and swimming with strong ranges. The deal, which is subject to approval by the UK Competition & Marks Authority, will see the merged business headed by Wiggle CEO Stefan Barden and chairman Brian McBride, with Chain Reaction Cycles managing director Chris Watson taking a place on the board. Wiggle is owned by Bridgepoint and posted sales of £179 million last year with privately owned Chain Reaction posting £153.4 million sales for 2014.
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