Cykelkraft was acquired by Spobik

Cykelkraft, a Stockholm, Sweden-based company operating an ecommerce operation for selling bikes, announced in a press release that it was acquired by its Swedish competitor, Spobik, based in Jönköping.

The deal, which has the financial details undisclosed, was made as Cykelkraft was in bankruptcy procedures, managed by the Swedish authorities.

Spobik was founded in 2017 by Peter Arvidsson and operates a chain of shops selling bikes and accessories.