Text: Wheel Giant

Giant Group announced that on September 14, it successfully acquired the assets of U.S. indoor cycling brand Stages Cycling through its American subsidiary, SPIA Cycling Inc., via bankruptcy proceedings. The winning bid amounted to $20.1 million, and the transaction has been completed. Giant stated that the primary goal of the acquisition is to expand its presence in the indoor cycling sector and build a comprehensive cycling ecosystem.

Stages is well known for its indoor bikes and power meters, and it is a leading brand in the U.S. commercial indoor cycling market, with many chain gyms as its clients. Stages' outdoor cycling products, including power meters and cycling computers, are also popular with regular cyclists. However, due to the decline in the indoor fitness market during the pandemic, coupled with U.S. inflation and rising interest rates, Stages’ business suffered significantly. This led the company to file for Chapter 11 bankruptcy protection in June this year. Giant Group hopes that through this acquisition, the strengths of both companies can be integrated to provide consumers with a more comprehensive cycling experience.

Giant Group CEO Young Liu expressed his excitement about the acquisition, stating, "We are thrilled to integrate Stages' assets into the Giant Group. By combining indoor and outdoor cycling, we aim to provide outdoor riders with a full indoor training experience while bringing indoor fitness enthusiasts outdoors to enjoy the thrill of outdoor cycling. This will create the ultimate cycling ecosystem, offering a complete experience. We are confident in the future operations post-acquisition and will continue to deliver the best products and services to Stages customers."

▲Giant Group CEO Young Liu.