Cycling Brand Rapha Bought By Walmart Heirs
Cycling Brand Rapha Bought By Walmart Heirs by the grandsons of Walmart founder Sam Walton. Steuart and Tom Walton and their company RZC Investments will now own the controlling stake in the empire.
Rival firms, including Aston Martin shareholder Investindustrial, were said to have been interested in Rapha, which was valued at a reported £200m.
Mr Mottram said the investment would enable Rapha to accelerate its global expansion plans.
It shouts the start of the next level of our journey and is testament to the growth and potential that people see in Rapha and in cycling in general, he commented.
Started in London in 2004, selling directly to the public through its website and from a few shops, Rapha is now one of the top brands dealing in cycling clothing.
The company is popular among avid amateur cyclists, and previously supplied the kit to Team Sky, the leading British professional cycling team that included Chris Froome, four-times winner of Tour de France.
Will we see Rapha gear in Walmart ?
