Acquisition Planned by Newport Firm

Newriders Inc. stock surged Thursday after the company, which operates two Easyrider Cafe restaurants, said it will acquire the Agoura-based company that owns the Easyrider franchise and publishes motorcycle-oriented magazines.

Newriders said it is purchasing closely held Paisano Publications for an undisclosed price. Paisano, which has annual revenue of about $40 million, publishes motorcycle-oriented magazines such as Easyriders, sells motorcycle-related apparel and owns the themed restaurants, clothing stores and motorcycle super stores.

Newriders, which operates motorcycle-themed Easyrider Cafes in Fresno and Myrtle Beach, S.C., had sales of $1.16 million last year, according to its annual filing with the Securities and Exchange Commission. The stock, traded on the low-profile over-the-counter market, moved up $1.38 a share to $4.75 in heavy trading. More than 242,000 shares changed hands, compared with a daily average volume of 38,000 shares over the last three months.