According to information disclosed on the Sky News website, the owner of Sports Direct, Mike Ashley, is in negotiations to acquire the cycling brand ProBikeKit (PBK), which is part of The Hut Group (THG). The negotiation will be carried out through the company Evans Cycles, which he also owns.
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The forecast is that by the end of this week, the modification will be completed. The change will not have financial gains, however, it is being carried out in the period in which The Hut Group (THG) is experiencing a time of crisis, in which numerous branches were closed or sold to other companies.
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ProBikeKit (PBK) is a company focused on the sports business with several specialized brands, being founded in 1998 and in 2013, it was purchased by The Hut Group (THG). Mike Ashley’s companies, The Frases Group, started in 1982 with a single store and gradually acquired new companies such as Sports Group and Evan Cycles.
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