Wiggle sold for £180m
Online bike and tri behemoth sold for £180m to a private equity firm
Online cycling and triathlon retailer Wiggle has been sold for £180 million to a private equity firm.
Wiggle has been bought by Bridgepoint – best known in the UK for owning clothes retailer Fat Face – 13 years after it was founded.
Wiggle reported a 55% sales rise to £86.6m last year, up from £55m in 2009. More than 600,000 customers in 80 countries used their website in 2010.
Wiggle has won the 220 Award for Online Retailer of the Year countless times and, according to Hitwise, is the No 1 online bike shop by customer visits. Wiggle has also won the Bike Biz Online Retailer Award three years in a row.