Bankrupt Saris Biking Group Will get Bought at Public sale to Acquisition Agency in New Jersey

Posted on October 13, 2022 by Sam Anderson

C+A World acquired Saris at a chapter public sale, the 2 firms introduced in a press launch yesterday. The New Jersey-based agency will restructure its new asset as Saris Gear, LLC.

The businesses agreed to the transaction after Saris introduced in June that it was re-organizing below a voluntary debt consolidation program. Based mostly in Madison, Wis., Saris opted for the state’s Chapter 128, which its circuit court docket system operates.

Based in 1973, Saris constructed its status on hitch racks and trainers it manufactured at its Wisconsin facility. It additionally engineered public bike infrastructure options like work stands, racks, and e-bike charging stations.

C+A World focuses totally on acquisitions from its headquarters in Edison, N.J. The 2 firms pointed to C+A’s “confirmed expertise buying and redeveloping manufacturing firms” within the press launch.

C+A additionally “focuses on the design, manufacturing, and sale of all kinds of client merchandise,” per the press launch. It leads with its electronics arm. The corporate’s portfolio ranges from pictures tools to Kodak picture printers, Ivation dehumidifiers, Lyxpro audio tools, Sunny & Enjoyable out of doors toys, and ArfPets merchandise.

“Re-energizing Saris and sustaining its relationships are our highest precedence, and we’re trying ahead to having Saris efficiently working with recent product traces as quickly as attainable,” mentioned Chaim Piekarski, CEO of C+A World. “C+A World is completely positioned to construct on this model based mostly on our profitable expertise understanding and promoting merchandise customers need.”

The corporate claims a “vital presence” on direct-to-consumer third-party gross sales platforms like Amazon, Walmart, Goal, Wayfair, and Chewy. By buying Saris, it mentioned, it appears to be like to enter a brand new product class with what it known as “a loyal buyer base.”

Saris mentioned it would proceed to supply its merchandise by its retailers, specialty bike sellers, third-party e-commerce platforms, and its personal web site.

Transaction particulars had not change into clear as of this writing. Nor had the futures of its estimated 124 staff.

saris.com