Scott Sports, the Swiss manufacturer of bicycles and other sporting goods, has sealed a deal with Sheppard Cycles, according to company sources, the largest wholesale trader of bikes and bike parts in Australia and New Zealand. Scott and Sheppard Industries owner John Struthers have agreed to found two joint companies, Sheppard Cycles Australia and Sheppard Cycles New Zealand.
Additional investors are Kim Struthers and Stephen James as well as Steve Paraskevas, who will act as managing director of the two new entities.
Sheppard has a strong position in the local cycle industry due to its distribution rights for bike-related brands such as, among others, Scott, Diamondback, Raleigh, Giro, Haro, Cateye, Muc-Off and Kenda.
For Scott, the enhanced presence in New Zealand and Australia is the fourth strategic investment in other companies this year following its acquisition of Italian footwear manufacturer Dolomite, cycle brand Bergamont and the European license for Outdoor Research.