British cycling retailer Rapha has been sold for £200 million to the grandchildren of Walmart founder Sam Walton. According to The Guardian, private equity firm RZC Investments, run by Steuart and Tom Walton of the Walmart family, has confirmed its purchase of the retailer, which saw a sales boost of 30 per cent last year to £63 million. The upmarket cycling brand was founded in 2004 by Simon Mottram, whose stake in the business is valued at £25 million.
Go here to see the original:
Cycling retailer Rapha bought for £200m