One bicycle maker buys another
DAYTON, Ohio (AP) _ Huffy Corp. said Wednesday it has bought another bicycle maker, Royce Union Bicycle Co., and will operate it as a wholly owned subsidiary.
Huffy, based in Dayton, declined to say what it paid for Royce Union in the cash transaction. Royce Union will retain its management and keep its headquarters in Hauppage, N.Y.
Royce Union’s line of premium-priced bicycles will complement Huffy’s less expensive bicycless, the company said. Royce Union, which has annual revenues of $35 million, also distributes sporting goods.
Huffy makes and sells bicycles, basketball backboards, lawn and garden tools and provides inventory and supplier services.