Pierce Group purchases competitor MotoBuykers, puts foot in the Spanish market
Pierce AB, a Stockholm, Sweden-based company managing an online retail operation selling gear, spare parts and accessories for motorcycles, announced entering into an agreement to acquire the Spanish MotoBuykers, a Igualada, Catalonia-based competitor.
The financial details of the transaction remain undisclosed, while Pierce's objective is to make its entry into the Spanish market.
Motobuykers, founded in 2010 and led by CEO David Falk, has grown to become one of Spain’s leading e-commerce companies within the motorcycle parts and accessories industry. They have also reached significant sales in France and Italy and on top of that created the successful WeRide-app, a social app for motorcyclists. The company has raised €500k in funding in 2012 in a round led by Delta Partners, with participation family offices and the founders of the company.
Pierce AB, founded in 2009 and led by CEO Daniel Petersen, is an European online retailer focused primarily on the motocross segment on the web platform 24MX, selling gear, spare parts and accessories for motocross customers. The company operates stores under the brands 24MX, XLmoto, and Sledstore in 17 European markets with a 2017 turnover exceeding EUR 60 million, up 45% from 2016.
The company is owned by PE house Procuritas, which acquired the majority share package in the company in 2014.