The Austrian equipment company was the successful bidder for the assets of the Performance Bicycle parent, according to a court filing. The winning bid in the Jan. 16 auction was about $22 million, Bicycle Retailer reported, citing sources familiar with the matter. Representatives from Ideal Bike, Dick’s Sporting Goods, and Walmart’s Moosejaw division were also at the auction, according to the report, but it was not clear who was actively bidding.

Under the asset purchase agreement, the buyer will have to designate which unexpired leases and executory contracts it intends to assume. The assets include the Fuji, SE Bikes, Kestrel, and ... Log in to view full article.