Novato-based Mike’s Bikes has acquired Public Bikes, a design-oriented city bicycle and gear company based in San Francisco.
“The e-commerce site PublicBikes.com will remain the focus of Public’s brand and business,” said the announcement of the deal. “Customers living far from a Mike’s Bikes retail location will still be able to purchase Public bikes online, and have them shipped either ‘ready to ride’ direct to their door, or to Public’s bike shop assembly partners across the continental U.S.”
Hoodline.com reported Wednesday that Public Bikes had shuttered its Hayes Valley store on Sunday. The Hayes Valley showroom, at 549 Hayes St. between Octavia and Laguna, was Public’s only fully branded retail location
Mike’s Bikes has 12 retail locations, including San Rafael and Petaluma.
“When we started Public Bikes in 2010, our simple purpose was to encourage people, especially more women and beginners, to ride bikes and become more closely connected with their communities and Public,” said Dan Nguyen-Tan, CEO of Public Bikes, in the announcement. “This deal will expand the reach of Public bikes to get more people riding.”
Mike’s Bikes founder and CEO Ken Martin said he has been watching Public’s growth for years.
“(I) have always loved their brand, their unique style and their attention to detail,” he said in a statement. “We started carrying select models in our shops earlier this year, and it quickly became clear how many similar passions existed between our companies, employees and customers.”
According to the National Bike Dealers Association, in 2015, sales of bikes and parts was a $6.2 billion business. In 2002, the industry estimate was $5.3 billion.