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July 19, 2020 | Tom Ballard

LeMond reportedly selling Heritage Center site, splitting operations between Knoxville and Oak Ridge

LeMond Bicycles LLC reportedly has raised slightly more than $2 million in a private placement investment, possibly bringing the company closer to launching a bike line using technology developed by Greg LeMond’s other business, LeMond Carbon.

The three-time Tour de France champion founded both companies in 2016 as we celebrated in this article. Three years later, we noted that LeMond had what appeared to be a renewed effort to raise capital (see article here) that might have been a prelude to the report last week.

In an email last Thursday, Greg LeMond told Bicycle Retailer and Industry News that he could talk about his company’s plans in the bike market in a couple of weeks. There was also an article in The Oak Ridger reporting that LeMond planned to sell the plant in the Horizon Center that was “front and center” in the 2016 announcement and would move bicycle production to West Knoxville while seeking another Oak Ridge location for LeMond Carbon.

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