Manufacturer/marketer Collegiate Pacific, which sells sports equipment to schools and other institutional buyers, is considering acquiring the $45 million Bike Athletic Co. The 128-year-old bike supplies marketer is operating under Chapter 11 bankruptcy protection.
“Bike Athletics meets our primary acquisition criteria, which [are] an established name brand, widely acceptable products, and a strong dealer network,” CEO Michael Blumenfeld said in a statement. “Current management seems to be well focused on returning the company to its historic level of profitability, and we believe that under the Collegiate umbrella this process can be accelerated and expanded.”
Dallas-based Collegiate Pacific has not specified when it would complete due diligence and make its decision.