In August 2019 Accell Group sold Diamondback to Regent, L.P. ![]() In 2001, Derby Cycle Corporation sold Raleigh and Diamondback. In 1999, Diamondback Bicycles was purchased by the Derby Cycle Corporation, which also owned the Raleigh Bicycle Company, and merged Raleigh and Diamondback together. Since 1979, many riders have successfully competed under the sponsorship of Diamondback, which began with BMX and expanded to Mountain Bikes with the creation of Diamondback Racing (DBR) in 1993. Early in its history, the brand name was "Diamond Back" and in 1994 this changed to "DiamondBack" and then to "Diamondback." Beginning in 1990, Western States Imports started selling its mountain bikes and road bicycles under the Diamondback name as well. Diamondback Bicycles was founded as a BMX brand in 1977 by Western States Imports in Newbury Park, California, which sold bikes under the Centurion (bicycle) brand.
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