Brompton, the British folding bike maker, has sold a 15% stake to French sports retailer Decathlon and Chinese investment group BA Capital in a deal worth approximately £18m. Decathlon acquired a 10% stake and BA Capital a 5% stake, according to the company.
CEO says cycling market recovering
Chief executive Will Butler-Adams said the cycling industry is "over the worst" after a sales slump following a pandemic boom. "Cycling is in the ascendant," he said, citing growing interest in healthy living and pollution-free transport, with cities worldwide adding bike lanes.
Butler-Adams noted that despite cost-of-living challenges holding back new bike sales in Europe, the market is improving. Brompton's sales fell 7.5% to 78,530 bikes in the year to March 2025, but pre-tax profits rose to £130,476 from less than £5,000 a year earlier as costs were cut.
New expertise and retail presence
Butler-Adams said the partnership with Decathlon Pulse, the retailer's investment arm, would bring market knowledge, supply chain efficiency, and technology. "We are in this partnership to learn," he said. Decathlon has previously backed bike computer maker Magene and sports watch Coros.
BA Capital, which also holds stakes in bicycle brand Tenways and Labubu maker Pop Mart, will provide expertise on China, now Brompton's largest market. Franck Vigo, CEO of Decathlon Pulse, said: "What convinced us goes beyond the product: we share the same values, a strong culture of quality, and a long-term vision of sustainable urban mobility."
For the first time, Brompton bikes will appear in dedicated "Brompton corners" at select Decathlon stores. Brompton bikes range from £999 to nearly £6,000 for a top titanium ebike.
Shareholders and staff benefit
The deal allows staff, including Butler-Adams, and long-term investors to cash out some shares. Butler-Adams said many shareholders have held shares for 50 years, with some in their 80s or having passed investments to children. "Those shareholders have been, by and large, unbelievably supportive but they have to live their lives as well," he said.
Andrew Ritchie, who designed the bike in 1975 and founded the company, remains the largest shareholder. Butler-Adams took over in 2008, taking a significant stake after a conversation on a bus persuaded him to abandon plans for an MBA.
Challenges and calls for government action
Butler-Adams said the UK is not doing enough to support entrepreneurs who make a "massive personal commitment" to growing a business, meaning "most people just go and work for a bank or a consultancy." He called for an "environment of ambition with job and wealth creation."
He urged the UK government to crack down on illegal ebikes, which are dangerous because they "not only go too fast but because of how they are made," leading to battery fires. "Well made quality ebikes are phenomenal for society... [But] weak control of illegal ebikes is hampering the ebike market [in the UK]," he said.
Brompton reduced its workforce by about 50 to 790 employees due to increased employers' national insurance contributions and other tax changes. Sales in the year to March 2026 rose slightly, but profits were depressed by investment in expansion, including new stores and bike versions.
