For Schwinn, Fewer Bumps Ahead
After nearly a century of family control, Schwinn Bicycle has a new owner. On Jan. 19, the newly formed Scott Sports, a joint venture of Scott USA, a Ketchum (Idaho) bicycle company, and an investment partnership headed by real estate mogul Sam Zell and David Schulte, won bankruptcy-court approval to buy most of the company's assets for $41 million. Schwinn, which ran into financial and marketing troubles in recent years, will keep its dealer network and its brand name, one of the best known in the world.
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