Fox Factory Holding Corp. announced today that they have entered into a definitive agreement to acquire certain assets of Marzocchi’s mountain bike product lines through its certain subsidiaries.
Marzocchi Suspension, an Italian manufacturer founded by the two brothers Stefano and Guglielmo Marzocchi, designs and manufactures motor bikes and mountain bike suspension products since 1949. The transaction was expected to be closed in Q4 of 2015 which is still subject to customary closing conditions.
Without telling what is the exact product line they are buying, Fox CEO Larry L. Enterline said, “We are excited to announce the agreement to acquire certain assets of the Marzocchi mountain bike product lines, which we believe is a significant opportunity for FOX to further expand the penetration of our bike suspension products across more price points.” He also added, “The Marzocchi team has a long history of performance suspension experience and we believe that this highly complementary transaction will allow for the increased growth of the Marzocchi brand worldwide. We expect this transaction will bring together and strengthen two highly complementary product lines and allow for FOX to leverage its marketing, engineering, distribution, and supply chain resources to drive increased top-line growth and profitability.”
Fox also said that they will release more details about the acquisition next month together with their announcement of Q3 2015 earning results.
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