Pon, the owner of brands like Cervélo and Focus, is buying Dorel Sports, which owns Cannondale, Schwinn, GT

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Ross
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Pon, the owner of brands like Cervélo and Focus, is buying Dorel Sports, which owns Cannondale, Schwinn, GT

Postby Ross » Tue Oct 12, 2021 4:54 am

https://www.bike-eu.com/market/nieuws/2 ... r-10141466
AMSTERDAM, the Netherlands - Dorel Industries and Pon Holdings agreed on the acquisition as announced today. The sale is expected to close before the end of the first quarter of 2022. Pon Holdings reports a combined revenue of € 2.5 billion, making it biggest bicycle and e-bike company in the world exceeding Giant Bicycles.
The new conglomerate will combine well known A-brands such as Cannondale, Schwinn, Caloi, Gazelle, Swapfiets, Kalkhoff, Cervélo and Santa Cruz. Pon Holdings acquires Dorel Sports for a total consideration of € 700 million, on a debt and cash free basis. The transaction has been recommended unanimously by the Boards of both companies. The transaction is subject to customary regulatory approvals.

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