Rapha founder to continue as CEO after sale is secured
08/08/2017
The company, RZC Investments, is controlled by Steuart and Tom Walton, who stand to inherit the Walmart empire that was founded by their grandfather, Sam Walton. It is now the majority shareholder in Rapha.
Simon Mottram, who founded Rapha in 2004, is to retain a “significant part” of his shareholding in the company and will remain its chief executive. He said the deal “heralds the start of the next stage” of the Rapha brand.
Mr Mottram explained that the cash injection from RZC will be spent to expand its global presence and to strengthen its “leadership position in cycling”.
Reports in the UK media in July had suggested that Invus Group, which previously owned nutrition and dieting brand Weightwatchers, and Investindustrial, an important shareholder in automotive brand Aston Martin, were leading the race for Rapha.
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