Australian industry news: Pushys acquires Bikebug
Australian industry news: Pushys acquires Bikebug
Australian bicycle trade publication, The Latz Report, has reported that Australian cycling retailer Pushys has acquired one of its most prominent Australian e-commerce competitors, Bikebug.
The acquisition includes Bikebug and the wholesale company FRF Sports, both founded by Sydney-based Frank Fortuna. Bikebug has both a strong online e-commerce presence and five retail stores, while FRF Sports is the Australian importer of brands such as Colnago, Fulcrum, Ceramic Speed, Argon-18, Feedback Sports, and more. The acquisition was for an undisclosed amount.
As reported, Pushys took on a private equity investor, CPE Capital, in the middle of 2021. The investment goals include acquiring Bikebug, expanding into New Zealand, and launching an outdoor and adventure brand.
Historically the two companies have overlapped on some key products but predominately focussed on different customers. Bikebug has stood as the leading Australian online outlet for performance road cycling enthusiasts, while Pushys has catered to the mountain bike and family cycling market.
In an interview with the Latz Report, Pushys co-owner Shane Wolki confirmed that Bikebug and FRF Sports will continue to operate largely unchanged from a consumer point of view. Additionally, there are plans to expand Bikebug’s current road focus to incorporate premium off-road bikes, too. Pushys will continue to focus on the lower- and middle-level cycling markets.
A quick check on SimilarWeb and Google Trends reveals that 99 Bikes is the most searched name within Australian cycling retailers, followed by Pushys, which leads Bikebug. All three brands have thrived in recent years. Meanwhile, the previously dominant international e-comm brands such as Wiggle and ChainReactionCycles have lost significant ground in the Australian market, no doubt impacted by Shimano and SRAM, who introduced international selling restrictions, and the Goods and Services Tax imposed on overseas retailers.
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