The Rapha race: At least two bids have been tabled, valuing the brand at $261M.

LONDON — Louis Vuitton may have backed out of the running, but the race to buy Rapha is still very much on.

The word today at Sky News is that several investor groups are battling it out for the cycling brand, and at least two offers have been tabled at £200M ($261M), one by Investindustrial an Italian private equity firm with stakes in Aston Martin, the other by Invus which once owned Weight Watchers.

Since December Lean Luxe has been reporting on Rapha’s potential acquisition. One key question that’s loomed large in these proceedings is whether or not buyers are concerned by Rapha’s terms. Sky News seems to partially confirm that:

“Some bidders are said to have been deterred by the lofty value expectations of Rapha’s shareholders, with the company potentially selling for a price worth more than 20 times profits.”

If the sale were to happen at such a price, it would certainly bode well for current shareholders, however: “A sale would enable Rapha’s shareholders to cash in on a fast-growing interest in cycling, both in the UK and internationally, despite persistent questions over the sport’s governance at a professional level.”

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