Frasers Group, the parent company of retail giants Evans Cycles and Sports Direct, is reportedly in talks to acquire ProBikeKit (PBK), a digital cycling and clothing retailer, from the Hut Group (THG). The proposed deal involves the purchase of PBK’s stock and intellectual property assets, and sources suggest it could be finalized by the end of the week.

Although the financial impact of the acquisition is expected to be minimal for both parties involved, it comes as THG aims to streamline its operations and divest non-core subsidiaries. PBK, which was established in 1998 and bought by THG in 2013, offers a diverse range of cycling clothing and accessories from over 100 specialist brands including Adidas, Raleigh, and Michelin.

Should the deal go through, Frasers Group is likely to integrate PBK into its existing Evans Cycles subsidiary, which it acquired back in 2018. Since the acquisition, Frasers has strategically decided to close down several standalone Evans Cycles stores as part of its business optimization efforts.

[Link 1: ProBikeKit Website]
[Link 2: Evans Cycles Website]