September 16, 2010 (Lexington, S.C./Levis, Quebec) – Lambert, the largest P&A distributor in Canada and The Hawley Company, a leading US P&A distributor based in South Carolina, have signed a Letter of Intent for Lambert to acquire a majority interest in Hawley. The transaction is expected to be completed by Dec. 31st, 2010. Steve Hawley will continue as President of Hawley, running day to day operations and will remain a large shareholder.

“This transaction with Lambert starts a new, exciting chapter in our history”, said Steve Hawley. “We have tremendous growth opportunities available to us and as a result of the partnership, our company will gain access to critical resources and enjoy significant synergies and economies of scale. This will enable us to better serve our dealers and vendors”.

According to Sylvain Caya, GM for Lambert, “The partnership will be a perfect fit for Lambert’s strategic plans. Entering the US market, without compromising our service levels in Canada, is the next logical step for our growth. With Hawley we join a dynamic management team and will leverage each other’s best practices. Hawley shares our commitment to utilize an outside sales team to support our dealers and develop brands”.

As a result of the partnership, Hawley will be introducing several new brands to the USA market in booth #3339 at Interbike. These new lines will be available from Hawley in 2011.

About Lambert
Lambert is the leading supplier of parts and accessories for the bicycle industry in Canada. With over 60 years in business, the company distributes approximately 20,000 skus to almost 1,500 dealers across Canada. Lambert has facilities in both Quebec and British Columbia.

About The Hawley Company
Hawley is a leading supplier of P&A for the bicycle industry in the United States. With nearly a quarter century in business, Hawley services over 2,000 dealers across the US with nearly 20,000 skus. Hawley is based in Lexington, SC.