The Grandsons of Walmart's Founder Just Bought This Clothes Brand
The grandsons of Walmart's (WMT) - Get Report founder, Steuart and Tom Walton, have snapped up British cycling brand Rapha.
Their company RZC Investments is now the majority shareholder in the company which, until now, had been owned by Simon Mottram, Active Partners and a group of founding shareholders.
The co-founders of RZC Investments are the grandsons of the founder of Walmart Sam Walton. Steuart currently serves as a director on the retailer's board. His brother Tom has a keen interest in mountain biking and has been developing trails in Arkansas's Ozark Mountains.
"We're excited to be part of this next chapter by bringing the best sport in the world to more people in more ways and places," said Steuart Walton, Co-Founder of RZC Investments.
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