Fox to buy Race Face, Easton for $30.2 million
Bicycle and motorsports suspension manufacturer set to purchase British Columbia-based component company and its subsidiary, Easton
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Fox Factory Holding Corp., the parent company of Fox Racing Shox is set to purchase Race Face and with it, Easton bicycle components.
British Columbia-based Race Face purchased Easton bicycle components just eight months ago. Race Face kept much of Easton’s research and development based in the Scotts Valley, California area, which is near the Fox Racing headquarters and museum.
In a press release issued Friday, Fox’s CEO said, “We look forward to leveraging our global marketing, engineering, distribution, and supply chain resources to collectively develop next-generation, high-performance bicycle ride dynamics solutions.”
While the transaction is not completed, it is expected to be finished by the end of 2014, and Fox will acquire the two brands for approximately $30.2 million.
From information in the press release, we expect Fox is going to keep Race Face and Easton intact. Race Face’s president, Chris Tutton said, “The added operations, marketing, and engineering support from Fox will allow us to innovate faster while remaining focused on our core businesses.”