Novato-Based Mike's Bikes Sells To Dutch Company: Report

Novato CA

13 September, 2021

9:29 PM

Description

SAN RAFAEL, CA — A Bay Area bicycle retail chain that started in Marin more than 50 years ago has sold to a Dutch company. Novato-based Mike's Bikes was purchased by Pon, the parent company of several high-end bike manufacturers including Santa Cruz and Cervélo along with e-bike manufacturer Gazelle, the industry news website Bicycle Retailer reports. Mike's Bikes was founded in Marin in 1964 as a Schwinn dealer. CEO Ken Martin and President Matt Adams, the company's former owners, will continue to run the 12-store chain's day-to-day operations, the report said. Martin and Adams said the parent company does not intend to micromanage the Northern California chain in a video to employees obtained by the publication. "Nothing is going to change around here. They like who we are and what we are and our culture and that's what they want," Martin said on the video. "If we didn't tell anybody, no one would know the difference." Said Adams: "We were not purchased by Santa Cruz or Cervelo; We are under the same holding company (as those brands) ... we are still going to be mailing checks to Santa Cruz for our bikes and unfortunately we are not going to be getting any more special allocation of bikes than we already get."