The acquisition of Rocky Mountain: a new step driven by Canadian entrepreneurs

The Acquisition of Rocky Mountain: A New Chapter Led by Canadian Entrepreneurs

Translation of the excellent article written by Lee Rivett on May 9, 2025, and published in Retail Insider, a Canadian retail news publication.

Rocky Mountain Bicycles, one of Canada's most renowned mountain bike manufacturers, is entering a new era following its acquisition by Chaos Sports Inc., a group of four Canadian entrepreneurs. The new group is committed to preserving the West Coast brand's legacy while rebuilding its global presence and revitalizing its research and development operations in North Vancouver, the birthplace of modern freeride mountain biking.

This acquisition marks a turning point for the 43-year-old company, which filed for bankruptcy protection in late 2024 due to financial and operational difficulties. This transition is presented as a return to Rocky's roots and a step toward long-term sustainability under experienced Canadian leadership.

Return to the North Shore

As part of this revitalization plan, Rocky Mountain will re-establish its research and development center in North Vancouver. This return to its roots marks a return to the brand's origins, which owe much of its international reputation to the challenging terrain and mountain biking culture of British Columbia's North Shore.

The new owners stated that the rider-centric design philosophy and the company's deep integration with the trail building and mountain biking communities will remain central to its mission. In addition to investing in new product development, the group reaffirmed its commitment to the performance and durability standards that have characterized Rocky bikes for decades.

Meet the new owners: Canadian expertise in the outdoor and distribution sectors

Chaos Sports Inc. brings together four seasoned professionals from the Canadian sporting goods and outdoor industries, each contributing unique skills that align with the needs of Rocky Mountain Bicycles.

Jonathan Bourgeois is known for co-founding Raccoon Skis and is a partner at Maui Bikes, a Quebec-based electric bike company. He brings extensive experience in product innovation and outdoor culture, which will be essential as Rocky Mountain seeks to renew its product line and expand into new markets.

Christian Thibert is president of Thibert Inc., a major player in North American distribution. His broad experience in logistics and retail strategy should strengthen Rocky Mountain’s operational foundations and support its ambitions for large-scale international growth.

Patrick St-Denis brings his brand development expertise, acquired at Oakley and The North Face. His understanding of global brand marketing and consumer engagement will be essential to modernizing Rocky Mountain’s marketing approach while preserving its core identity.

Jean-François Grenache completes the team with a strong reputation for turning around brands in challenging markets. His leadership experience is expected to play a key role in revitalizing Rocky Mountain's operations following its restructuring.

Together, the shareholder group aims to restore stability, strengthen the company's Canadian roots, and position the brand for long-term success in the global cycling industry.

From Humble Beginnings to Global Influence

Founded in 1981, Rocky Mountain Bicycles has been instrumental in shaping the evolution of mountain biking in Canada and internationally. Its origins date back to 1978, when three cycling enthusiasts—Grayson Bain, Jacob Heilbron, and Sam Mak—began modifying Nishiki road bikes to suit the demanding trails of the British Columbia backcountry. In collaboration with frame builder Tom Ritchey, they launched the Sherpa, the first Canadian mountain bike designed specifically for mountain biking, in 1982.

Over the following decades, Rocky Mountain became synonymous with innovation and performance. Key achievements include the 1989 launch of the Stratos, its first production aluminum bike, and the 1993 creation of Race Face Bicycle Components, a brand specializing in high-performance bicycle components. Technologies like the Ride-9 geometry adjustment system and the Race Tuned Concept (RTC) have reinforced the brand's image as a leader in performance customization.

Rocky Mountain was acquired by the Quebec-based Procycle Group in 1997. While maintaining its Vancouver operations, this acquisition allowed it to expand its distribution and production capabilities. In 2018, Procycle became Rocky Mountain to unify its identity and streamline its global marketing efforts.

Despite its streamlining efforts, the company faced increasing challenges in the following years, particularly in the post-pandemic context.

Financial Crisis and Bankruptcy Filing

On December 19, 2024, the parent company, RAD Industries Inc., filed for creditor protection under Canada's Companies' Creditors Arrangement Act (CCAA). With a total debt of approximately 70 million Canadian dollars, this filing marked a turning point in the company's history.

Two key factors contributed to Rocky Mountain's financial instability:

1/ Supply chain disruptions during the pandemic: While demand for outdoor activities skyrocketed during the COVID-19 pandemic, supply chain disruptions prevented Rocky Mountain from procuring essential components.

2/ Post-pandemic market decline: As demand normalized, bicycle prices fell significantly. Combined with initially high production costs, this decline quickly eroded the company's profit margins.

To address these challenges, Rocky Mountain implemented workforce reductions, including layoffs at its North Vancouver headquarters. The company nevertheless ensured business continuity for warranty claims, technical support, and the supply of spare parts during the restructuring period.

Judicial Oversight and Strategic Sale

The Companies’ Creditors Arrangement Act (CCAA) proceedings were overseen by the Superior Court of Quebec (Commercial Division), and Ernst & Young was appointed as judicial reviewer. As part of the court-supervised sale and investment solicitation (SIV) process, Rocky Mountain actively sought buyers and investors to ensure its continued operation.

The sale to Chaos Sports Inc. was finalized in May 2025. The group’s offer was selected for its alignment with the brand identity, its experience in the outdoor and cycling sectors, and its commitment to revitalizing operations in British Columbia.

Future Outlook: Returning to Canada

The new owners did not disclose the financial details of the transaction but confirmed that the brand will continue to operate under the Rocky Mountain name. Their immediate priorities include reopening the North Vancouver research and development facility, stabilizing supply chains, and developing international partnerships.

This acquisition marks a renewed focus on product innovation, local engagement, and expansion into international markets where demand for high-performance mountain bikes remains strong. Building on its proven trail reliability, Canadian identity, and loyal cycling community, Rocky Mountain Bicycles is entering a new era with ambitious plans: to go further and faster than ever before.

Alberabike's Opinion

Rocky Mountain remains, and will always remain, one of the finest mountain bike brands in the world. Their sophisticated products, designed by passionate riders, have led them to innovate and invest more than any other brand in recent years, particularly in the development of complete motor systems, the Dyname, tailored for three distinct e-MTB families: kids, light, and full power. They are one of the few bike brands to have achieved this. Add to that the numerous improvements made to their excellent Altitude, Element, and Instinct models, which remain benchmarks in their field... We continue to receive spare parts for the entire Rocky Mountain range, which we ship throughout Europe, and we look forward to presenting the new 2026 models, which will be in stores in April…

See our post on a Rocky Mountain Poerplay C90 VS Lapierre Alpine