Urtopia's Owners Buy Pedego, Trek's Brake Recall, D.C. E-Bike Speeds Reduced | TWR Ep 58

"Earlier this spring, Verlinvest-the investor group that previously held the majority share in Pedego-decided to back away from the brand. Following this development, Pizzi explored deals with four potential buyers before finalizing the purchase with the group behind Urtopia. Prior to this deal, Pedego was already working with Urtopia; 58 of the brand's stores acted as dealers for the newer company's carbon fiber e-bikes. Pedego found that Urtopia's products sold very well to younger riders, which complemented their own focus on an older crowd."

"According to Bicycle Retailer, "Urtopia will provide engineering and supply chain efficiencies and will allow Pedego's licensed retailers to access high-tech models that complement Pedego's existing product line. The partnership will also create engineering and supply chain efficiencies that will benefit both Pedego- and Urtopia-branded e-bikes." Urtopia bikes will continue to be sold by other dealers in both the US and Europe, as well as via the company's website."

"During the pandemic era, Pedego dealers were established in 220 locations, but that number has slipped by nearly half. Now, Pedego stores will sell e-bikes under their own label, Urtopia's name, and from a few other brands as they work to expand back to their pandemic-era size and beyond. The company's goal is to have 500 dealers by the end of 2029."

Pedego was purchased by the ownership group behind Urtopia and renamed New Pedego Holdings Inc., with Larry Pizzi remaining CEO. Verlinvest stepped back earlier in the year, prompting Pizzi to explore several potential buyers before the sale closed. Pedego had already collaborated with Urtopia, with 58 Pedego stores acting as dealers for Urtopia's carbon fiber e-bikes; Urtopia appealed to younger riders while Pedego serves an older demographic. The partnership aims to create engineering and supply chain efficiencies and give Pedego retailers access to higher-tech models. Pedego dealer count fell from about 220 to nearly half; the company aims for 500 dealers by 2029.

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