LONDON — RZC Investments, which is based in the U.S., has taken a majority stake in the hot British cycling brand Rapha.
The terms of the deal and valuation were not disclosed.
Launched in 2004 by founder and chief executive officer Simon Mottram, the label has been owned until now by Mottram and a group of shareholders, including Active Partners.
The brand is known for its cycling apparel and accessories and cycle clubs and clubhouses where Rapha products are sold. The Rapha in London’s Soho houses a café where TV screens broadcast the latest cycling races. The brand is sold in more than 100 countries and operates 17 clubhouses globally.
The acquisition will see the company expand on its clubhouse network, and membership club as well as products and services.
Mottram will remain as ceo. “This is an exciting day for Rapha,” he said. “It heralds the start of the next stage of our journey and is a testament to the growth and potential that people see in Rapha and in cycling.
“The arrival of RZC Investments as a shareholder means we can pursue our mission to elevate cycling as a global sport and recruit more participants by engaging them and enabling them to ride with us at all levels.”
He said the investment will help the brand to expand its active global community of cyclists, develop more innovative products and services and inspire many more people to “take up the world’s greatest sport.”
RZC is an investment vehicle set up by brothers Steuart and Tom Walton, grandsons of Wal-Mart Stores Inc. founder Sam Walton. They are reportedly both avid cyclists.