Schwinn sold again
Pacific Cycle – the parent company of Schwinn, GT and Mongoose –announced Wednesday that the firm will be acquired by Montreal-based Dorel Industries, a global supplier of juvenile and home furnishing products. Dorel has signed a purchase agreement to acquire the Madison, Wisconsin-based Pacific Cycle. Dorel’s purchase of Pacific Cycle is expected to be completed by the end of the month. Chris Hornung, founder and CEO of Pacific Cycle, will remain at the head of Pacific and will run the company as a standalone Dorel division. “This acquisition provides numerous opportunities to