Detroit Bikes acquired by Arkansas-based cycling group

Detroit — A Motor City bicycle manufacturer has been acquired by an Arkansas-based cycling group.

Detroit Bikes LLC has sold off its assets, including its brand, inventory and 50,000-square-foot factory to Cardinal Cycling Group, according to a Thursday news release.

Zak Pashak, Detroit Bikes founder, will remain a partner in the new company and continue in a factory management and business development role, it notes. 

Zak Pashak, owner and founder of Detroit Bikes, poses with a rack of bike frames, Thursday, June 25, 2020. Detroit Bikes is being acquired by Arkansas-based Cardinal Cycling Group.

Detroit Bikes will continue normal operations while it executes planned 2022 production and develops an expanded product range that will launch in the second half of 2022.

Cardinal Cycling Group, the release notes, will further develop the “USA Made” steel range and expand urban eBike offerings.

“From the moment I saw the Detroit Bikes launch video in 2014, I have loved the Detroit Bikes brand,” Tony Karklins, CEO of Cardinal Cycling Group said in a statement. 

Source link

Leave a Reply

Your email address will not be published.

Back to top button