January 14, 2004 – Pacific Cycle, the owner of Schwinn, GT and Mongoose bicycles, is being bought by Dorel, a Canadian manufacturer of infant car seats and furniture.

The Montreal company, Dorel Industries, will pay $310 million for Pacific Cycle. Dorel had more than $1.1 billion in sales in 2003, making them one of North America's largest importers of consumer products made in Asia.