Thirty years and a complex business model later, Merida finds itself with a headquarters and research and development centre in Germany, manufacturing locations in Taiwan and mainland China, and, thanks to a shrewd business acquisition, it owns nearly 40 per cent of Specialized.

Is Merida the same as Specialized?

Spesh is manufactured in Merida's Taiwanese plants now instead of Giant's plants. So Specialized = Merida, but Specialized still = Specialized when it comes to R&D and overall ownership.

Who owns Specialized?

This is Mike Sinyard, founder and owner of Specialized, one of the founding fathers of mountain biking and a man at the helm of a bicycle company that now measures its annual turnover in eight figures.