Monday, November 06, 2006

Hayes (disc brake people) Puchases Answer (Manitou)

This is from the BR&IN website. Pretty amazing.

HB Performance Systems Acquires Answer Products

NOVEMBER 06, 2006 -- MEQUON, WI (BRAIN)—HB Performance Systems has acquired Answer Products, a company that produces forks, shocks, bars, stems, clothing items and other bicycle-related parts. Details of the sale were not immediately available. Hayes representatives declined to comment until an official company press release has been sent out.

“It’s a good marriage,” said Chris Smith, Answer’s director of global sales and marketing. Smith didn’t have any details on the transaction, but said that “Hayes’ goal is to manufacturer every part other than the frame.” Smith added that it’s still “business as usual” for Answer.

This latest acquisition shouldn’t come as a surprise. In a May Bicycle Retailer and Industry News interview with vice president and general manager of Hayes Bicycle Group Rhonda Kirkwood, she addressed the possibility of future acquisitions.

“We’re also looking at other potential acquisitions that are a good fit culturally, that align with our values and our product lines, particularly those bicycle components that could be integrated with our current products,” Kirkwood said.

In September, HB acquired Wheelsmith Fabrication, a company that produces spokes and offers wheel-building services and other wheel-related products. In July 2005, HB acquired Sun Metal Products, a leader in the design, manufacture and sales of Sun Ringle brand wheels, wheelsets, hubs and other bicycle and wheelchair components.


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