Deal profile | Gadens advises BikeExchange on acquisition of BikeExchange Colombia
17 March 2022
Gadens has advised BikeExchange Limited (ASX: BEX) on the acquisition of the remaining 50% of BikeExchange Colombia S.A.S (BECOL) from its joint venture partner in an all scrip deal.
BikeExchange, founded in Melbourne, is an international digital marketplace for cycling products, hosting over 1500 brands from 1450 retailers. BECOL is the Colombian-based arm of the company, which boasts four retail stores, with 175 retailers active on the BECOL marketplace.
BikeExchange has operated BECOL as a joint venture since its inception four years ago. The acquisition means the entity is now 100% owned by BikeExchange.
The acquisition of BECOL follows BikeExchange’s acquisition of the US-based bicycle delivery services business Kitzuma in December 2021. Gadens also advised BikeExchange on the Kitzuma acquisition.
Commenting on the transaction, partner Winnie Sinn said:
“We are delighted to once again assist BikeExchange as it expands its operations globally. The acquisition is an exciting one, as it sets the foundation for BikeExchange to leverage the Columbian market but also expand further into other LatAm regions.”
Practice group: Corporate.
Key team members: The team was led by corporate partners Jol Rogers and Winnie Sinn, who were assisted by associate Brittany Kluske.