Purchase agreement intent highlights QBP’s commitment to retailer education
Quality Bicycle Products (QBP) announced today it has signed a purchase agreement to acquire Barnett Bicycle Institute (BBI) from the National Bicycle Dealers Association (NBDA). The expected acquisition of BBI highlights QBP’s commitment to strengthen specialty bicycle retailers by offering them a portfolio of educational platforms, including its U of Q online program, Frostbike retailer education event, Service Summit and additional programs.
“We are excited about the opportunity to bring BBI and its professional staff into the QBP family,” said Rich Tauer, President of QBP. “Education is central to what QBP offers our retailer and supplier partners. The purchase of BBI will complement and expand our comprehensive education platform in ways that will benefit our company and the bicycle industry.”
BBI is highly regarded in the bicycle business for its robust curriculum and professional-grade mechanic training programs. Approximately 250-300 students are educated through BBI classes each year at its Colorado Springs, Colo., facility. It was founded by John Barnett in 1986 and was purchased by NBDA in 2016.
“QBP will be the perfect steward of BBI’s strong legacy while helping it reach its full potential as a business that educates bicycle retailers,” said Brandee Lepak, President and Chairperson of NBDA. “We’ve worked alongside QBP for many years. We respect the company’s values, leadership and their dedication to specialty bike retailers.
QBP and NBDA expect to complete the sale of BBI in October 2019. BBI will remain at its Colorado Springs location, which QBP intends to upgrade upon taking ownership.
“We’re confident that by growing BBI and leveraging all of our education opportunities—as well as working alongside important industry partners like the United Bicycle Institute—we will elevate the value that specialty bike retailers provide retail customers,” said Tauer.