Wiggle-CRC has been bought by Signa Sports United as the German retailer raised $645m after agreeing to list on the New York Stock Exchange.
Reuters
Wiggle’s previous owner Bridgepoint, a private equity firm, becomes an invester in Signa as part of the deal.
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The money to purchase Wiggle came via $345m from Yucaipa Acquisition, a special-purpose acquisition company (SPAC), and $300m from investors through private investment in public equity (PIPE).
Adding the British company to its repertoire, that includes Bikester, makes Signa approximately four times bigger than Bike24, its nearest competitor in the sub-sector.
It marks another big step in Wiggle’s history, having began life over 70 years ago as the Butler…
