India: Hero Cycles fully acquires Ludhiana-based premium bicycles maker Firefox Bikes

The founder and MD of Firefox Bikes Shiv Inder Singh will continue to spearhead the company's operations under his new role as a CEO. Visual sourced from HeroCycles website.

Hero Motors group-led Hero Cycles Ltd has acquired Ludhiana-based Firefox Bikes Pvt Ltd, a premium bicycle company, to further strengthen its position in the fast-growing premium bicycle sector in India, the company said in a press statement. Hero Cycles already operates in the premium bicycle segment with its brand – UT Edge.

The promoters of Firefox have divested their entire stake in the company in an all-cash transaction deal. With the acquisition, Hero Cycles takes ownership of all Firefox brand of cycles, accessories and spares along with exclusive distribution rights of ‘Trek’ and other global brands.

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