WeSports acquires leading Norwegian and Finnish bike specialists: Birk and Larunpyörä
Malmö, June 3, 2024 - WeSports (or “the Company”) is expanding its online and physical bike destinations through the strategic add-on acquisitions of Birk and Larunpyörä. With these additions, the Company is extending its omnichannel strategy beyond its current leadership in Sweden to Finland and Norway.
WeSports has acquired a holding stake in Birk, the premier bike specialist brand in Norway. Birk currently operates two physical stores in Oslo, an established e-commerce platform, and a B2B sales channel for government-subsidized bikes. The Birk team is joining forces with WeSports’ subsidiary Spobik to further enhance both online and offline bike destinations, with the aim of becoming the leading provider of government-subsidized bikes in Norway. Despite facing challenges in the market, Birk achieved a turnover of 86 MNOK in 2023, with an EBIT margin of 1%.
Following the collaboration with Larunpyörä, a Helsinki-based bike specialist, Spobik will operate the e-commerce platform for Larunpyora.com through a partnership structure. Larunpyörä's founders will continue to manage their Helsinki stores, including a dedicated e-bike destination, as they have done for the past 30 years. Larunpyörä, along with its importing company, serves as the official importer for renowned brands such as Focus, Focus e-bikes, Cervélo, Kalkhoff, Kalkhoff e-bikes, and Santa Cruz bikes. In 2023, Larunpyörä had a turnover of 8,5 MEUR, with e-commerce accounting for approximately 25%.
“We are excited to announce our recent partnerships with Birk and Larunpyörä. Our expansion in the Nordic markets present a fantastic opportunity for growth and collaboration. I'm confident that joining forces with these popular brands will yield great returns for both our company and cycling enthusiasts in Norway and Finland. Looking forward to the journey ahead!” says Martin Appelfeldt, CEO of WeSports.
"We at Birk are thrilled to join forces with WeSports and Spobik. Together, we can leverage our expertise to enhance the shopping experience for cyclists across Norway. Spobik has a proven model for operational excellence in e-commerce, and we are ready for a rewarding partnership going forward!" says Martin Norgård Vermundsberget, MD of Birk.
"The e-commerce expertise, resulting from this deal, holds great value for both Larunpyörä and Spobik, offering opportunities for synergies through shared knowledge, resources, and market insights. We anticipate significant growth, increased profitability, and enhanced capabilities as we collaborate to maximize our online presence and seize new market opportunities." says Jari Luostarinen, CEO and founder of Larunpyora.com / Bikeimport Finland Oy.
About WeSports
WeSports is a Nordic sports performance category expert group. WeSports is the leading Nordic specialist in three performance sport areas. Bikes & Mobility, Running & Outdoor, and Training & Team sports. WeSports addresses the elite athlete and sport and healthy lifestyle enthusiasts, through physical and online stores, as well as distribution of own and controlled brands.
WeSports acquires and develops performance sport & leisure equipment specialists and lets them operate freely in a decentralized structure on the back of a common infrastructure. At WeSports the core belief is that the entrepreneurial spirit is key to success. Therefore, all brands are run by entrepreneurs and local teams, supported by WeSports in areas of their choosing.
The group had a proforma turnover of 2,3 bSEK in 2023. The group has continued to show a healthy organic growth in 2024 with profitability and healthy finances. The Bike & Mobility segment accounts for 33% of the group's turnover.
Read more about WeSports here:
www.wesports.se
Contacts
Martin Appelfeldt
CEO WeSports Scandinavia AB
+46 702-898815
martin.appelfeldt@wesportsgroup.com
Martin Norgård
CEO Norgård Sport AS (Birk)
+47 932 60 419
martin@birk.no
Jari Luostarinen
CEO Bikeimport Finland Oy (Larunpyörä)
+358 40 041 3870
jari@bikeimport.fi