Halfords has put an offer in for Evans Cycles.
Sky News has reported that Halfords is amongst a number of potential bidders, including a number of turnaround investment companies.
Halfords already own competitors Cycle Republic, which currently operates around 20 stores in the UK. Evans Cycles currently operates 60 stores in the UK and Ireland.
Evans has been owned by private equity firm ECI Partners since 2015, and is seeking £10 million in new capital.
Evans has asked potential bidders to table their offers imminently, according to Sky News.
