Through its subsidiary SPIA Cycling Inc., the Giant Group has acquired American sports electronics specialist Stages Cycling for USD 20.1 million. The company expects to strengthen both its indoor and outdoor cycling offerings and intends to revive the brand known for its power meters.
After a first attempt to acquire Stages Cycling had been halted after Lunar New Year 2023, the Giant Group has now taken over all assets of the American sports electronics specialist. Founded in 2010, Stages Cycling built a reputation for its power meter solutions that fit almost any crankset on the market. In 2015, the company expanded its business into the indoor cycling segment with the launch of the Smart Bike Trainer. This know-how and in-house technology were the main reasons for the Giant Group to look into an acquisition of Stages Cycling back in 2022. Just before the Lunar New Year holidays in 2023 the board of the Giant Group had already authorized the investment to acquire the brand. But for various reasons this deal did not materialise in early 2023.
Acquisition through Giant Group’s subsidiary SPIA Cycling
From there the challenging market conditions had such a serious impact on Stages Cycling that the company was forced into administration under chapter 11 by June of this year. The Giant Group was still interested in an acquisition, but first some objections from a number of debtors and one inventor who had been suing Stages Cycling for intellectual property rights needed to be addressed. Now the judge in charge of the administration process has given the green light for the acquisition through Giant Group’s subsidiary SPIA Cycling Inc for the amount of US$ 20.1 million. The deal includes Stages Cycling’s intellectual property rights, production machinery, the product lines and a limited inventory.
“We are thrilled to integrate Stages Cycling’s assets into our organization,” Donald Yu, the president of SPIA Cycling Inc. said in a press release from Giant Group. “This acquisition aligns with our strategic goals and enhances our capabilities in both indoor and outdoor cycling. We are committed to leveraging these assets to drive innovation and deliver greater value to our customers and stakeholders.” Paddy Murray, VP of Global Sales and Marketing of SPIA Cycling Inc, said, «We’re thrilled about the opportunities this acquisition presents and the benefits it will bring to Stages Cycling’s dedicated customers. Our priority is to ensure a seamless transition while revitalizing the Stages brand to address both current and future customer needs.”
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