Thursday, July 07, 2005

Cannondale buys Sugoi.....

Cannondale Acquires Sugoi Performance Apparel
SportsNewsSource Posted: 7/7/2005

Cannondale Bicycle Corporation has reached an agreement to acquire Sugoi Performance Apparel.

The acquisition significantly expands the growing apparel and accessories offering under the Cannondale umbrella. The acquisition strengthens it’s presence in the cycling and triathlon market in addition to adding Sugoi’s strong presence in the running segment. The company will capitalize on the significant heritage and strong consumer base of both brands in order to offer distribution of all products on a global basis.

“This is a natural extension for us to join forces with a company that has a similarly rich culture and a heritage of proven innovation and performance,” said Matt Mannelly, President of the Cannondale Brand. “ It is consistent with our mission of offering innovative products for consumers who want to improve their performance and enhance their athletic experience.”

“We are extremely pleased to become part of a company that clearly believes in our brand strategy, our commitment to quality and the spirit of innovation,” said David Hollands, co-founder of Sugoi. “The additional resources will allow us to rapidly expand our great Sugoi products to retailers and consumers on a worldwide basis”.

Both companies are privately held and the terms of the agreement are undisclosed.

Not bad for a company like Cannondale that was in bankruptcy a few years ago.

1 comments

1 Comments:

Anonymous Anonymous said...

The new management is lame and Sugoi is faultering. Product is 2nd rate and designs are stale.

That's too bad, the company used to be cool.

2/03/2007 1:53 PM

 

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