Walmart heirs snap up British bikewear brand Rapha
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London
RAPHA, the upmarket British bikewear brand credited with bringing fashionable as well as functional garments to the booming cycling market, is set to get additional pedal power in the form of a major new shareholder.
The company, based in London, announced on Monday that RZC Investments, an investment vehicle set up by Steuart and Tom Walton, two scions of the billionaire Walmart dynasty, would take a majority stake in the business, which was founded by its chief executive, Simon Mottram, in 2004.
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