Independent bike shop Pedal Revolution has been bought out by its management team for an undisclosed sum.
The sale saw Ben Turner, Kate Warner, Matt Watts and Marc Eales buy out owners Neil Turner and Gareth Edwards, the first time the Norfolk bike retailer has changed hands in nearly 25 years.
In 2018 the retailer merged with Hunstanton-based cycle business Fatbirds, which resulted in the bike shop opening a store in Kings Lynn.
A year later the Kings Lynn store was closed and a new Pedal Revolution shop was opened in Norwich, which the firm operated alongside its store in Gorleston.
During the deal the previous owners were advised by a legal team from Howes Percival.
Oliver Pritchard from Howes Percival said: "Pedal Revolution is a very well-regarded business in the local market and the wider East Anglia region. With several keen cyclists in the firm, we were delighted to have been able to support this local business on the transaction. It is heartening to see the business staying independent and putting in place a succession plan to pass ownership on to the next generation."
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