Equip Outdoor Technologies Ltd (owners of Rab® and Lowe Alpine) has reached an agreement to sell the Podsacs brand to Planet X Limited in a deal that was concluded on 23rd October 2013.
Equip bought the Podsacs brand in 2007 from founder Pete O'Donovan and expanded the collection from packs and bouldering mats to include a successful range of accessories. The purchase of Lowe Alpine by Equip in July 2011 made the future of Podsacs unclear and this recent sale is the final move in a process that will see the Equip group now focus on its two major international brands, Rab® and Lowe Alpine.
The deal sees Podsacs return to its original home in Sheffield as part of the online cycling retail giant Planet X. Planet X are the fastest growing UK bike company, with a strong retail heritage of over twenty five years. Employing over 100 staff in their South Yorkshire headquarters they design, manufacture and assemble high performance road and mountain bikes and componentry, retailing to a global market.
Planet X CEO David Hanney said, "it's fantastic to be in a position to take a classic brand like Podsacs on to the next level, and the systems we have developed at Planet X will allow us to make those differences."
At this stage it is unclear whether Planet X are going to be developing Podsacs as a climbing range or as a cycling range.
Podsacs joins Planet X's existing brands, On-One, Titus, Holdsworth, Sab, Tomac and Viner.