Cycling News

Giant Group’s $20 Million Investment Plan in Stages Cycling Falls Through Due to Failed Negotiations

16 May 2023
the5krunner

stages cycling logo icon brand imageGiant Group’s $20 Million Investment Plan in Stages Fails

Giant Group, a significant player in the cycling industry, has announced the cancellation of its ambitious investment proposal of approximately $20 million to acquire a one-third stake in Stages Cycling. The decision came as a result of the companies’ inability to reach definitive agreements on the terms and conditions of the deal, according to documents filed by Giant with the Taipei stock exchange.

Earlier in 2023, Giant had publicized its intention to invest $20 million in Stages Cycling, following their previous close ties as Stages had manufactured stationary bikes for them. Giant’s board had approved the acquisition of nearly one-third of Stages Cycling shares, along with other investment vehicles.

The primary objective behind Giant’s investment plan was to expand its presence in the cycling market and establish a comprehensive “cycling ecosystem” for the company. However, this ambition has come to an abrupt end, as Giant recently stated, “The Company and the counterparties are unable to reach mutual consensus on the terms and conditions of definitive agreements, therefore the parties have discontinued the negotiations. The parties have not executed any definitive agreement.”

Furthermore, it raises the question of the impact on Stages Cycling who, like many industry players, must be facing sales pressures. Based on my recent experience with the company, they are actively investing in new product research and development, even introducing new features for their Stages bike computers, which currently hold a modest market share. While the company has faced challenges in sourcing Shimano components, the situation has improved in recent months across the industry. For instance, Stages has recently started shipping 12-speed Shimano R9200 versions of its 3rd Generation power meter technology. Issues with supply chain components aside, power meter sales are generally ‘not great’ at the moment.

Partial Source: Bicycle Retailer

Last Updated on 22 January 2026 by the5krunner

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