PORTLAND -- The longtime owner of Portland's iconic Bike Gallery stores has sold the business to an employee and the owner of California-based Trek Bicycle Superstore.
The first store was opened by Bob Graves in Portland's Hollywood District in 1974. His son Jay grew up working around the store after school and eventually took the reins, according to BikeGallery.com.
Jay Graves sold the six Portland-area stores to Trek Bicycle Superstore's Mike Olson of San Diego and to Bike Gallery employee Kelly Aicher, who will serve as general manager.
“Jay is such a respected leader in the industry. When he approached us to help him figure out his retirement strategy, we knew we needed the right match that would honor his dedication and passion for cycling, customer service and bike advocacy,” said Bill Nootenboom of Meriwether Group, the firm that brokered the deal. “Mike and long-time Bike Gallery employee Kelly Aicher share Jay’s vision for a vibrant bike community. They’re the perfect team to move the company forward.”
In the past decade Graves has spent significant time away from the business focusing on bicycle advocacy from a business perspective, said Filmed by Bike founder Ayleen Crotty.
Graves will continue his work as a founding and current board member of Cycle Oregon and as vice chair of the Oregon State Parks Commission, according to a Meriwether Group statement.