DEFIANCE, Mo. — The company seeking to turn Augusta, Missouri, into a national wine destination has again expanded its business portfolio in the region.
The Hoffmann Family of Companies said Wednesday it is acquiring Katy Bike Rental at 2998 S. Highway 94 in Defiance, about 7 miles east of Augusta. Katy Bike Rental will be merged with Kickstand Augusta, a bicycle shop opened in July by Hoffmann.
Financial terms of the deal were not disclosed. Hoffmann said its purchase includes Katy Bike Rental’s building, equipment and inventory.
Katy Bike Rental is located at mile 237 of the Katy Trail, a popular destination for bicycle riders. It offers bike rentals and sales, repair service and retail for customers. By expanding its bicycle rental business through the acquisition, Hoffmann said it will be able to allow customers to rent bicycles from both shops and ride between the two towns. It said it will also offer shuttle service for customers between Augusta and Defiance.
“The Kickstand Augusta provides repairs, online rentals, retail and snacks to those along the Katy Trail at the Augusta Trailhead. We are looking forward to expanding our footprint into Defiance and more locations along the Katy Trail in the upcoming future," said Ashley Hesjedal, director of specialty retail for Hoffmann.
The purchase of Katy Bike Rental is the latest addition to Hoffmann’s plan to invest $125 million in the region, surpassing initial projections of $100 million.
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