March 24, 2003 Pacific Cycle Expands Recreation Business
Schwinn bicycle maker Pacific Cycle L.L.C. has announced the purchase of InSTEP L.L.C., a marketer and distributor of jogging strollers and bicycle trailers. Pacific Cycle maintains its largest warehousing and distribution facility in Olney, Illinois.
The transaction comes less than a year after Pacific Cycle introduced a Schwinn brand of premium bicycles for mass merchandisers including Wal-Mart, Target and Toys 'R' Us. The company acquired the brand when it purchased the assets of Schwinn in 2001.
The InSTEP purchase will continue the expansion of Pacific Cycle's business into consumer recreation and fitness. Pacific Cycle recently expanded its three bicycle brands (Schwinn, GT and Mongoose) into in-line skates, skateboards and recreational clothing. InSTEP has been a key licensee in executing that strategy according to company management.
InSTEP will also add other consumer products to Pacific's product line-up, including jogging and convenience strollers, infant frame carriers, travel beds, bicycle trailers, massage tables, push golf carts, outdoor furniture, watercraft carriers, and snowshoes.