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Shimano acquires Pearl Izumi

Nautilus, Inc. has agreed to sell Pearl iZumi, it's cycling apparel and footwear subsidiary to Shimano American Corporation, which is a division of cycling and fishing equipment maker Shimano, Inc.

“The acquisition brings together two companies started by Japanese families who share a passion for cycling,” said Pfeiffer. “Both have strong research and development backgrounds, offer industry leading innovations, and share an obsession with quality and performance. We’ll continue to build the respective brands and remain dedicated to the healthy independent dealer networks we’ve both enjoyed.”

Shimano buys Pearl Izumi [via BikeRadar.com]