As part of the realignment of Andy Rihs' bicycle activities, Andy Rihs and the company International Retail Corporation SA (IRC for short) have agreed on a takeover of Squadra Mondo, which operates in the Swiss specialist bicycle trade. IRC's majority shareholder Beat Zaugg will take over Squadra Mondo's shares in full and will continue to run the company under his own management from fall 2016.

Squadra Mondo, which is owned by Andy Rihs and currently has 4 branches in Stäfa, Altendorf, Steinhausen and Oftringen, has been one of the leading providers of high-quality bicycles and bicycle accessories in Switzerland for over five years. With around 25 employees, the company stands for high-quality products and services, both in the sporty segment and in the area of urban mobility with e-bikes. In November 2015, Squadra Mondo decided to downsize and announced that the number of stores would be reduced from eight to four.

The new owner of Squadra Mondo is International Retail Corporation SA as of October 1, 2016. With IRC majority shareholder Beat Zaugg, an experienced entrepreneur is taking over the company's fortunes. All Squadra Mondo employees will be taken over by IRC. Zaugg brings a wealth of experience and expertise to Squadra Mondo: Zaugg is the majority shareholder of Scott Sports. Last fall, Zaugg made headlines with the acquisition of a majority stake in Transa Backpacking AG. With the acquisition of Squadra Mondo, Zaugg has now secured a second foothold in the Swiss sports retail business.Owner Andy Rihs is delighted with the solution. "With the sale to IRC, we are handing over our company into competent hands, which will continue and further develop our "100% Velo" strategy in terms of strong brands, a genuine shopping experience and a high level of workshop and consulting expertise."

www.squadramondo.com