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Cycling retailer ProBikeKit to be bought by Mike Ashley's Frasers Group, reports suggest

Ashley's high street sports empire already counts Evans Cycles and Sports Direct in its portfolio...

ProBikeKit (PBK) looks set to continue trading as reports suggest Mike Ashley's Frasers Group is close to buying the online cycling retailer.

In April, PBK's owner THG (formerly The Hut Group) had announced the shutting down of its lifestyle division, citing "lossmaking", however now Sky News reports Frasers Group is "close" to buying the stock and intellectual property assets.

Sources told the news outlet that a deal could be finalised and announced as soon as by the end of the week, with the acquisition of PBK expected to be handled through Frasers' Evans Cycles subsidiary, bought by retail entrepreneur and former Newcastle United owner Ashley in 2018.

PBK was founded in 1998, producing and selling cycling accessories, components, clothing, tyres, and tubes, and supplies road, mountain bike and cyclo-cross kit in more than 80 countries.

ProBikeKit

In 2013, THG bought PBK, adding to its lifestyle division alongside brands such as Myprotein and Myvitamins. However, following a "strategic review" earlier this year, THG confirmed it was shutting down the division, putting 180 jobs at risk in Greater Manchester.

"Following a strategic review of our OnDemand division, as announced in THG’s trading update of 17 January 2023, we can confirm that we are proposing to discontinue operations in the OnDemand division across all sites. We are currently consulting with impacted colleagues and will take steps to minimise the number of redundancies," a spokesperson said.

"We are also consulting with certain colleagues in THG Studios where, following the closure of OnDemand, we expect associated workflow to reduce proportionately. THG is committed to supporting all affected colleagues and, where possible, we will endeavour to find colleagues alternate roles within the wider THG Group."

For the past few months PBK's website has been running a warehouse sale, however today's news suggests its time as part of the cycling retail scene is not done yet.

Dan is the road.cc news editor and has spent the past four years writing stories and features, as well as (hopefully) keeping you entertained on the live blog. Having previously written about nearly every other sport under the sun for the Express, and the weird and wonderful world of non-league football for the Non-League Paper, Dan joined road.cc in 2020. Come the weekend you'll find him labouring up a hill, probably with a mouth full of jelly babies, or making a bonk-induced trip to a south of England petrol station... in search of more jelly babies.

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5 comments

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brooksby | 12 months ago
2 likes

So on t'Interweb, everything becomes Amazon Marketplace; and in Real Life, everything is Fraser Group.  Ah, the freedom of choice that untrammelled capitalism brings...  3

Avatar
mike the bike replied to brooksby | 12 months ago
1 like

brooksby wrote:

So on t'Interweb, everything becomes Amazon Marketplace; and in Real Life, everything is Fraser Group.  Ah, the freedom of choice that untrammelled capitalism brings...  3

Indeed sir.  How I long for the socialist model that allows citizens to visit  People's Supermarket No 176 where they can be bossed about by uppity staff with sensible legs and wander the aisles of mostly empty shelves.  I have shopped in East Berlin and, like every aspect of life there, it was a deeply soulless experience.

Avatar
brooksby replied to mike the bike | 12 months ago
1 like

mike the bike wrote:

brooksby wrote:

So on t'Interweb, everything becomes Amazon Marketplace; and in Real Life, everything is Fraser Group.  Ah, the freedom of choice that untrammelled capitalism brings...  3

Indeed sir.  How I long for the socialist model that allows citizens to visit  People's Supermarket No 176 where they can be bossed about by uppity staff with sensible legs and wander the aisles of mostly empty shelves.  I have shopped in East Berlin and, like every aspect of life there, it was a deeply soulless experience.

Is a capitalist mono/duo/something/opoly better than a state/socialist monopoly?

Avatar
Krislord replied to brooksby | 12 months ago
0 likes

I'm just happy he doesn't own Newcastle United anymore..... 

Avatar
Off the back replied to Krislord | 12 months ago
4 likes

Instead you have an owner from a country with a questionable human rights record 
 

but yeah, Mike was a bad guy. 

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