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
Trek Bicycle Corporation Trek discontinued the Exercycle line, spinning off its fitness division into an independently-owned company, renamed Vision Fitness. In 1995, Trek introduced its full suspension Y bike, a departure from traditional bike design. The Y bike sold well, and won an "Outstanding Design and Engineering Award" from "Popular Mechanics" magazine. Also in 1995, Trek made a number of business moves in order to diversify its product offering and gain market share, acquiring Klein Bicycles, a Chehalis, WA, manufacturer of premium aluminum-framed bicycles, as well as Bontrager Cycles, a Santa Cruz, CA-based manufacturer of bicycle components and hand-built steel frames. Trek also