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BOND TAKES STAKE IN CYCLE COMPANY: Andy Bond, the former chief executive officer of Wal-Mart-owned Asda, has made his first foray back into retail after stepping down from his role at Asda earlier this year. Bond has taken a stake in the British online sports and cycling retailer, Wiggle, along with a non-executive director role on the company’s board. Bond — whom the company said is a keen cyclist himself — will continue in his part-time role as a chairman at Asda.
Wiggle, which sells items such as cycling wear, mountain bikes and helmets, is backed by the British private equity firm Isis, which took a 12 million pound, or $18.6 million stake, in the business in 2006. Last year, Wiggle recorded sales of 55 million pounds, or $85.3 million at current exchange.