Turner Family Entities - Pedal Group
Gainsdale Pty Ltd, Hootie Blowfish Pty Ltd, and Counting Crows Pty Ltd, which are entities associated with Mr Matthew Turner and his family (together, the **Turner Family Entities**), propose to increase their existing shareholdings in Pedal Group Pty Ltd (**Pedal Group**) by collectively acquiring from Flight Centre Travel Group Limited (**Flight Centre**) shares representing (in aggregate) 20.32% of the shares in Pedal Group. In connection with this acquisition, Pedal Group will buy back the remaining shares held by Flight Centre in Pedal Group, representing (in aggregate) 26.68% of the shares in Pedal Group. The share buy-back and proposed acquisition of shares in Pedal Group by the Turner Family Entities (together, the **Acquisition**) are interrelated and conditional upon each other. Upon completion of the Acquisition, the Turner Family Entities’ shareholding in Pedal Group will increase from 36.30% to 77.23%. The balance of the Pedal Group share register will continue to be held by existing and former Pedal Group employees. Pedal Group is a retailer and/or wholesaler of bicycles, e-bikes, scooters, associated accessories and a provider of bicycle / e-bike maintenance services. In Australia, Pedal Group operates 71 “99 Bikes”-branded retail stores and the “Advance Traders” wholesale business. Pedal Group also supplies bicycle rental services in Queensland.
- Status
- Assessment completed
- ACCC determination
- Approved
- Stage
- Waiver application
- Notified
- 8 April 2026
- Determination published
- 30 April 2026
Acquirers
- Hootie Blowfish Pty Ltd
- COUNTING CROWS PTY LTD
- Gainsdale Pty Ltd
Targets
- Pedal Group Pty Ltd