September 24, 2007, PHILADELPHIA, PA - Advanced Sports, Inc. announced today it has reached an agreement to purchase the Kestrel brand, trademarks and intellectual property. ASI currently owns the Fuji and SE Bikes brands.
Under the terms of the agreement, Advanced Sports, Inc. has acquired the rights to the Kestrel brand name, its marketing assets and all tooling. Sandpoint Design, Kestrel’s current owner, will continue to sell through its 2007 inventory. ASI will introduce the new 2008 model line at the Interbike Expo in Las Vegas, NV September 26-28, 2007 at ASI’s new booth location - #563. Models featured will include: RT900 SL, RT800, Evoke, Talon, Talon SL and the AirFoil SL. 2008 Kestrel framesets will be available in January 2008; complete bikes will be available starting February 2008.
“In acquiring Kestrel, ASI is one step closer to its goal of 10% market share (in the IBD). From what we’ve learned about growing a niche brand through purchasing SE, I’m confident we can take on this new project and grow the Kestrel brand and ASI significantly,” said Patrick Cunnane, President of Advanced Sports, Inc. Kestrel will remain Kestrel – a unique, innovative road and multi-sport brand that has pushed the envelope in carbon fiber technology. ASI will continue to invest in research on the materials, tooling and performance technology that have built the legacy of the Kestrel brand - the most innovative carbon bicycle company in the world.
“We are thrilled to acquire such a prestigious brand with a prominent position in the high-end road and triathlon markets,” said Karen Bliss, ASI’s Marketing Manager. “Kestrel has an extraordinary history of innovation in carbon technology – an asset we intend to build on. We know Kestrel fans want to see the brand remain in its position of leadership,” she added.
ABOUT KESTREL
Kestrel, which has been a bicycle brand since 1987, is a leader in high performance carbon-fiber composite bicycle frames, forks and components for road, off-road and multisport use. A true pioneer in the production of composite bicycle frames and forks, Kestrel is responsible for many of the industry's technical innovations including the first all-carbon fiber frame, the first all-carbon mountain bike, the first modern full-suspension mountain bike design, the first use of aerodynamic tube sections in a production bicycle, and the first carbon fiber road fork. www.kestrelbicycles.com.
ABOUT ADVANCED SPORTS, INC.
Advanced Sports, Inc. was formed in 1998 to purchase the Fuji brand. In 2002, ASI bought the SE Racing (BMX) brand. The company has grown rapidly since then and currently sells branded bikes, parts and accessories world-wide. Fuji and SE bicycles are sold exclusively through the IBD channel. ASI’s headquarters are located in Philadelphia, Pennsylvania. www.fujibikes.com. www.sebikes.com.