More Information
NOVATO
European investment firm buys Marin Bikes
Published: Friday, February 10, 2012 at 4:01 a.m.
Last Modified: Friday, February 10, 2012 at 4:01 a.m.
Novato bicycle manufacturer Marin Bikes has been sold to a European investment firm, the company said this week. Terms of the deal with Minestone Ltd. were not disclosed.
Founded in 1986 in San Anselmo by Bob Buckley, the company has been headquartered in a former Grateful Dead building in South Novato since 2004.
"The acquisition of Marin by Minestone will allow us to strengthen our brand through increased investment in product innovation, marketing and human resources," Buckley said in a statement on the company's website.
The company has about 30 employees in Novato, which is home to the company's warehouse, sales staff, designers and management, said product and marketing manager Mark Vanek. Most of the manufacturing is performed in Taiwan and Cambodia, Vanek said.
The sale is not expected to affect staffing at the company, Vanek said.
"The biggest difference is we're going to have a much deeper resource pool to draw from," he said.
All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.