Specialized Bicycle Components Costco. The move angered some Specialized dealers. In 1996, Specialized withdrew the Full Force line and Mike Sinyard wrote a letter of apology to dealers. By the end of 1996, Specialized had lost 30% of its bike shop sales and, according to Sinyard, "came within a few hundred dollars of declaring bankruptcy". In 2001, Merida Bikes of Taiwan bought 49% of Specialized for a reported US$30 million. Mike Sinyard remained majority owner and CEO of the company. , Specialized is one of the biggest bicycle brands operating in the United States, alongside Trek Bicycle Corporation and Giant Bicycles. In 2012
Specialized Bicycle Components Choi and Forsman's attorney, Tyler Paetkau, that Specialized incurred more than $2M in legal fees to practice "competition by litigation." In September 2016, Volagi announced that it would close its doors after a founding member was injured in a bicycle accident involving an automobile. In 2013 Specialized mailed a small bike shop owner in Canada a cease and desist letter over its use of the city name Roubaix in its shop name and wheels, the name of a town in France that rose to prominence as a textile center in the 15th century and has hosted an iconic bicycle race