PRESS: Sports Direct’s Mike Ashley Eyes Up Evans Cycles Acquisition – Telegraph

Alliance News
  • January 26th, 09:55
  • Last Updated: October 10th, 12:27

**PRESS: Sports Direct’s Mike Ashley Eyes Up Evans Cycles Acquisition – Telegraph **

LONDON (Alliance News) – Sports Direct International PLC founder Mike Ashley is amongst a group of retailers looking to buy British cycle retail chain Evans Cycles, the Telegraph reported late Saturday.

Bikes-to-car parts retailer Halfords Group PLC was also amongst those eying Evans Cycle as a potential buy, the Telegraph said. However a person familiar with the matter told Alliance News Monday that Halfords is now out of the running to buy Evans Cycles, instead focusing on opening up their own Cycle Republic stores in London.
Ashley is looking to buy up the retail chain for around GBP100 million, according the The Telegraph, which would be part of his plans to expand Sports Direct’s offering into the cycling market.
Sports Direct declined to comment.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11367892/Mike-Ashley-eyes-latest-move-with-bid-for-Evans-Cycles.html
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.

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