Raleigh Cycle said it had agreed to a takeover by Dutch rival Accell Group for €76m, including debt.
The company has been making bicycles for 125 years.
"The directors of Raleigh Cycle Limited are pleased to announce that they have reached agreement on the sale of Raleigh to Accell," a statement said.
"There is a very complementary fit between the two businesses, with very little geographical overlap; in particular Raleigh will immediately give Accell Group a major presence in the UK, the USA and Canada," it added.
Raleigh chief executive Alan Finden-Crofts said Accell was "acquiring a true global brand with 125 years of heritage and distribution into over 140 countries worldwide."
Classic Raleigh brands include the Chopper and Grifter.
Raleigh chief executive Alan Finden-Crofts said Accell was "acquiring a true global brand with 125 years of heritage and distribution into over 140 countries worldwide."
Classic Raleigh brands include the Chopper and Grifter.
