Hero Cycles Acquires Firefox Bikes
Q. Hero Cycles has acquired which Delhi based premium bicycle brand for an undisclosed sum on 18th September 2015?- Published on 20 Sep 15a. Firefox Bikes
b. Champion Bikes
c. Firefox Cycle Accessories
d. Champion Cycle Accessories
ANSWER: Firefox Bikes
The world’s largest bicycle manufacturer by volume, Hero Cycles has acquired Firefox Bikes for an undisclosed sum in all cash deal. As part of the deal, Firefox Bikes will continue to have its distinct brand identity and remain a separate business entity post the acquisition. Promoters of this Delhi based firm have divested their entire equity in the deal. Deal involves Firefox brand of cycles, accessories and spares along with exclusive distribution rights of `Trek' and other international brands.
