WeSports Group Enters Strategic Partnership With Cycle Group
WeSports Group Enters Strategic Partnership With Cycle Group Malmö, October 24, 2025 – WeSports Scandinavia AB (“WeSports Group”) strengthens its Nordic presence through a strategic partnership with Cycle Group Oy (“Cycle Group”), owner of Finland’s leading specialist bicycle chain Pyörävarikko. The partnership makes WeSports the market leader in cycling across both Sweden and Finland. In 2024, Cycle Group achieved €20 million in revenue with strong profitability.
“Cycle Group is one of the most dynamic bike companies in the Nordics. Their entrepreneurial drive and market leadership align perfectly with WeSports’ growth vision. Together, we’ll create strong synergies through shared logistics, joint purchasing, and brand development,” — Ted Sporre, CEO, WeSports Group
Founded in 2021 by Justus Malassu, Timo Kallio, and Juha Kallio, Cycle Group has rapidly expanded to eight Finnish cities and built a leading premium retail and e-commerce platform under the Pyörävarikko brand. WeSports initially joins as a strategic partner, with an option to increase ownership to 51%, and later 91%. Cycle Group will be treated as an associated company until fully consolidated.
The partnership supports WeSports’ strategy to build category-leading positions across the Nordics and will enable shared operations with subsidiaries Spobik, Cargobike, and Huntteri.
“WeSports brings scale, experience, and vision that will take us to the next level. We share the same passion for cycling and growth,” — Juha Kallio, Co-founder and Chairman, Cycle Group
The partnership also leverages WeSports’ experience from the Swedish benefit-bike market, supporting Cycle Group’s growth amid similar regulatory changes in Finland.
About WeSports Group
Nordic sports equipment specialist with SEK 2.7 billion turnover (R12 Q2 2025), active in cycling, fitness, running, hockey, floorball, skiing, and outdoor. www.wesportsgroup.com
About Cycle Group
Finland’s leading premium bike retailer under the Pyörävarikko brand, operating eight stores and a national e-commerce platform. 2024 revenue: €20 million.
Mergero acted as advisor on the transaction.