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by Shane Stokes
August 8, 2017
In today’s Daily News Digest: Sagan takes photo-finish victory on stage one of the BinckBank Tour; Contador announces he will retire after Vuelta a España; Hansen to ride Vuelta a España after all, will begin 19th consecutive Grand Tour; Gilbert extends for two years with QuickStep, targets victory in San Remo and Roubaix; Trentin signs two-year deal with Orica-Scott; Haas heads to Katusha-Alpecin for 2018 and 2019 seasons; Cort Nielsen to move from Orica-Scott to Astana; Giro d’Italia 2018 to begin with three stages in Israel; Canadian track rider O’Brien out of intensive care; Walmart heirs’ fund becomes majority shareholder in Rapha; Shimano teases new footwear prior to Eurobike; Video: A day in the life of Warren Barguil
Rapha has confirmed a Sky News report that RZC Investments has bought the brand. According to Sky News, the investment vehicle set up by two scions of the billionaire Walmart dynasty is the victor of a £200m race to buy Rapha, the British maker of upmarket cycling gear.
It said that the transaction was expected to be announced on Tuesday. However, perhaps responding to the report, Rapha announced the news on Monday.
“Cycling lifestyle brand Rapha is delighted to announce that US-based RZC Investments is now the majority shareholder in the business. Rapha has been owned since launch by Simon Mottram and a group of founder shareholders, including lead investor, Active Partners.
“Rapha has expanded rapidly overseas, now selling through 20 local websites, shipping to over 100 countries and operating 17 Clubhouses in major cities around the world, with seven new clubhouses opening by the end of this year alone. The business has grown by more than 25% every year, has been profitable since 2009 and now has more than 200,000 active customers and 450 employees.”
Click through to read more at Sky News and at Rapha.