Business Services Industry
Madison, Wis.-Based Pacific Cycle Shifts into Higher Gear with Acquisitions.
Knight Ridder/Tribune Business News, October, 2001
By Tom Daykin, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Oct. 1--MADISON, Wis.--Chris Hornung didn't set out to change the U.S. bicycle industry.
But Hornung's low-profile Madison company, Pacific Cycle LLC, has shifted the industry's marketing focus and, in doing so, is becoming its dominant player.
And now, by spending $146 million to buy two bicycle companies this year -- the most recent being Schwinn -- Pacific promises to change the industry even more and capture a larger share of the $2 billion U.S. bicycle market.
Anyone looking for news of Pacific's purchase of American legend Schwinn probably had to look hard. The deal was being finalized on Sept. 11, as terrorists were flying hijacked jets into the...
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