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Ribble Cycles bought by True Capital investment firm

Dove family involvement continues with James Dove remaining as managing director

Preston-based Cyclesport North Ltd, owner of the Ribble Cycles brand, has been acquired by retail investment firm True Capital, reports Insider Media.

Founded in 1897, Ribble employs 50 people and serves more than 75,000 customers a year.

True Capital co-founder Paul Cocker, said:

"We have been tracking Ribble Cycles for some time and are delighted to be able to join forces with the Dove family."

"The structural growth of cycling, the changing consumer attitudes to their health and wellbeing and the fragmented nature of the market look attractive drivers for one of the world’s leading heritage cycling brands to significantly accelerate its presence and market share both in the UK and internationally."

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Cyclesport North Ltd is owned by the Dove family. Terry Dove said that while he was sad to be leaving the business, he was delighted that his son, James, would continue to play an integral role at the firm. "It was important to me that, having been involved with Ribble for over 30 years, we could find the right partner to take the brand forward and in True Capital I am confident we have found one."

James Dove, managing director, said:

"True Capital shares our vision for the next stage of Ribble’s growth and their sector specialist knowledge and understanding of the market coupled with the appreciation of our culture make them the right partner for the future development of the business.

"We look forward to expanding our offering, accelerating our growth and continuing to deliver exceptional customer service to our global audience."

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16 comments

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mtb_roadtripper | 3 years ago
0 likes

This hasnt aged well. 

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exilegareth | 8 years ago
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Hang on, none of us know what's happening here. What if the owner wants to sell up and retire? How's he going to ensure his son gets to stay on- by selling to a competitor or by bringing in n investment partner?

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rnick | 8 years ago
0 likes

This could of course be good for Ribble...access to capital for investment, directors with experience of developing new markets / supply chains which will help them survive and hopefully prosper against Chainreaction and Wiggle (who trace their routes back to a small shop and have been equity capital backed for sometime).

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Bikeylikey | 8 years ago
0 likes

This article is just lousy PR for Ribble. It makes the whole thing look like horrible faceless corporate money-grubbing, with all that hideous jargon like the whole of:

 "The structural growth of cycling, the changing consumer attitudes to their health and wellbeing and the fragmented nature of the market look attractive drivers for one of the world’s leading heritage cycling brands to significantly accelerate its presence and market share both in the UK and internationally."

Shudder. As if the customers are just pawns in their capitalist game.

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Anthony.C | 8 years ago
0 likes

Probikekit became cheaper and more efficient when they were sold, the personal touch has gone completely though.

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Fran The Man | 8 years ago
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Speaking as somone who was brought up in the Lake District, I 'm as sorry as the next bloke [cyclist?] to hear this news.

I just hope the name doesn't disappear, or that the bikes end up being made in Taiwan. They probably are, anyway!

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J90 | 8 years ago
1 like

Hopefully they'll make some nice looking bikes now.

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CharlesMagne | 8 years ago
0 likes

Or it could be that with most consolidations they are now able to source higher quality items at lower cost. Just because they are owned by a bigger company doesn't mean they're losing all their staff or changing course. Indeed it sounds like they will now be able to accelerate improvements they had planned thanks to the extra capital.

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pmr | 8 years ago
2 likes

Agree with all the comments so far -

I'm an owner of two ribble bikes, and lots of other stuff from them.
They've sold out here.
I'm not judging them, hell I might have been tempted to take the money myself, but is it a good thing. Hell no.

In the long run once all the manufacturers have sold out, imagine how good those that still stand will feel, and how much money they will make!
I dont think there's any large scale manufacturer of bikes (frames) in the UK, since the Rayleigh factory went, but those niche framebuilers, although comparitively expensive, are really making hay now.

At the end of the day its all about Branding nowadays, we as consumers must realise its all the same, and real brands hardly exist anymore.

Take MINI, ROLLS ROYCE, etc - they are German cars. They name has Birtish heritage its only a name now.

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Mad cuclist replied to pmr | 8 years ago
0 likes

pmr wrote:

Agree with all the comments so far -

I'm an owner of two ribble bikes, and lots of other stuff from them.
They've sold out here.
I'm not judging them, hell I might have been tempted to take the money myself, but is it a good thing. Hell no.

In the long run once all the manufacturers have sold out, imagine how good those that still stand will feel, and how much money they will make!
I dont think there's any large scale manufacturer of bikes (frames) in the UK, since the Rayleigh factory went, but those niche framebuilers, although comparitively expensive, are really making hay now.

At the end of the day its all about Branding nowadays, we as consumers must realise its all the same, and real brands hardly exist anymore.

Take MINI, ROLLS ROYCE, etc - they are German cars. They name has Birtish heritage its only a name now.

fyi it's Raleigh......Rayleigh is a town in Essex  where ironically muddy fox is now based.....part of universal cycles. 

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1961BikiE | 8 years ago
0 likes

You just know the prioritories of any company that uses "capital" in its name will have the employees and customers best interests at heart. "Have you seen how much people pay for push bikes these days? We'll have a bit of that thank you". Sorry Dove family I hope I'm wrong. But I doubt it.

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mike the bike | 8 years ago
3 likes

Well, they would say that wouldn't they.  

In the real world we all know what will happen now; the prices will rise, the bargains will be fewer and the whole feel of dealing with a family firm will disappear.  In a couple of years' time Ribble will be indistinguishable from all the others, which is a shame.

But hey, at least they didn't go the way of Parkers.

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climber replied to mike the bike | 8 years ago
0 likes

mike the bike wrote:

But hey, at least they didn't go the way of Parkers.

 

Yet. 

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Airzound replied to climber | 8 years ago
1 like

climber wrote:

mike the bike wrote:

But hey, at least they didn't go the way of Parkers.

 

Yet. 

 

What happened to Parkers?

 

Actually I hope they went down, as I bought, well I tried to buy some stuff from them, and they were a NIGHTMARE! Never again, avoid.

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Mad cuclist replied to Airzound | 8 years ago
0 likes

Airzound wrote:

climber wrote:

mike the bike wrote:

But hey, at least they didn't go the way of Parkers.

 

Yet. 

 

What happened to Parkers?

 

Actually I hope they went down, as I bought, well I tried to buy some stuff from them, and they were a NIGHTMARE! Never again, avoid.

actually Jack Parker decided that it's nice to make a profit and pulled out when the big boys took all the margin out of the game in the race to the bottom. 

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ibr17xvii replied to mike the bike | 8 years ago
0 likes

mike the bike wrote:

In the real world we all know what will happen now; the prices will rise, the bargains will be fewer and the whole feel of dealing with a family firm will disappear.

 

This was my 1st thought as well.

I love my Ribble bike & have always found them great to deal with on the whole. When they moved premises from the old shop to the warehouse they have now they lost a little bit of identity IMO & it would be a real shame if they lost any more of that family business feel.

Inenevitable though probably.

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