All articles by Jo Beckendorff – Page 24
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ArticleIPO of the bicycle certificate based on first and newly created bicycle stock index
For the first time, investors can now invest in a specific certificate on what the company describes as “the world’s first bicycle index.” The planned date for the IPO on the Frankfurt Certificates Exchange is June 21. 10 percent of the annual fee of 1.3 percent of this so-called “donation ...
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News briefsCanyon welcomes new CFO
Source: Canyon Winfried Rapp While current business is humming along with new records, German D2C bicycle supplier Canyon Bicycles has announced a change in its top management. Winfried “Winni” Rapp will assume the position of CFO. At the same time, current CFO Lothar Arnold (brother of Canyon ...
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News briefsFox Racing with new financing partner
On May 18, investor Wingspire Capital provided a US$95 million senior secured credit facility consisting of a US$35 million revolving credit line and a US$60 million term loan to Fox Racing Inc. The U.S. company said it’s using the loan proceeds not only to refinance its prior senior credit facility ...
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News briefsOrbea strategically expands European sales organization
Source: Orbea Julien Remazeilles Spanish bike manufacturer Orbea has promoted Julien Remazeilles to sales manager for the European market. Officially effective June 1, the experienced Orbea employee will be responsible for Spain, France, Germany, Italy, Portugal, Benelux, Austria, Denmark, Ireland and Switzerland. In this newly created position, ...
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News briefsMair acquires partner brand Bike Machinery
Robotic industrial machinery supplier Mair Srl and Bike Machinery Srl, known in the bicycle industry for its expertise in tubing processing, are taking their partnership in bicycle production machinery and service (including maintenance) to the next level. Mair will gradually take over the Bike Machinery brand until the end of ...
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ArticleFrench investor takes over Swiss e-bike pioneer Stromer
European private equity firm Naxicap Partners has reached an agreement to acquire Swiss premium e-bike pioneer Stromer (bikes up to 45 km/h). Details of the transaction were not disclosed. However, it is still subject to approval by the responsible regulatory authorities. Source: MyStromer AG Stromer’s brand-new premium model ...
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ArticleU.S. bike industry veteran to head Hero International in London
After Indian two-wheeler giant Hero MotoCorp Ltd. (also known as Hero Motor Company or HMC) announced in March the formation of Hero International (HIT) as its new international headquarters in Europe, U.S. industry veteran Jeff Weiss has now been hired as CEO of the new London-based company. Once founded as ...
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News briefsNew distribution partner for Corratec in Benelux
Effective immediately, the southern German bicycle brand Corratec is distributing its products in the Benelux countries through Wiki Sports. In addition to Corratec, the Genk, Belgium-based company distributes other premium brands such as BCargo, Cipollini, Fantic, M1-Sporttechnik, Rotwild, Veeley, Veloe and others. Previously, Corratec was sold through Dutch RS Bicycles ...
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News briefsFood industry group Heristo acquires Möve Bikes
Germany’s Heristo Holding, a family-owned food industry group, is acquiring bicycle manufacturer Möve Bikes, which went bankrupt on Feb. 5. Together they want to ensure that one of the oldest German bicycle brands with innovative technologies enjoys a secure future. Heristo’s commitment also ensures that jobs at the Möve site ...
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ArticleWise Equity acquires one-third stake in Selle Royal Group
In late 2019, Italian bicycle accessories and parts manufacturer Selle Royal S.p.A. (a.k.a. Selle Royal Group with brands Brooks, Crankbrothers, Fizik, Pedaled, Selle Royal) had officially announced its search for a financial partner to accelerate its growth trajectory. On May 14, Milan-based venture capital and private equity fund company Wise ...
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News briefsMerida’s sales shift into double-digit range
When it comes to business figures, Taiwan’s second-largest bicycle manufacturer Merida Industry Co., Ltd. (aka Merida Bikes) is always a little reserved. Looking ahead to Q1 of fiscal 2021 and beyond, the manufacturer has released sales figures in value terms, although it has not provided any details on unit sales, ...
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ArticleLeatt’s chase for records continues
South African head-to-toe protective equipment supplier Leatt Corporation continues to chase records. Its just-released first quarterly report of 2021 shows record sales of $12.90 million. Compared to the first three months of the previous year, this is an increase of 71 percent. Operating income was even up 459.6 percent at ...
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News briefsGiant Group boosts sales and profit to record levels thanks to e-bikes
Continued strong global market demand for bicycles and e-bikes has brought Taiwan’s largest bicycle manufacturer Giant Group both record revenue and record profit in the first sales quarter of the current fiscal year 2021. While quarterly sales grew at double-digit rates compared to the first three months of last year, ...
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ArticleConstruction starts on new Kettler Alu-Rad e-bike factory in Germany
Kettler Alu-Rad, a member of Europe’s leading bicycle purchasing cooperative Zweirad-Einkaufs-Genossenschaft (ZEG), is beginning with the construction of a new production facility in the German state of Saarland. As early as the first quarter of 2022, the first e-bikes are expected to roll off the production line from one of ...
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ArticleFox Factory Q1 sales shine with surge in bicycle product sales
Suspension specialist Fox Factory continues to soar. The company posted record sales for the third consecutive quarter. Q1 2021 sales increased 52.5 percent to $281.14 million (€231.16m). This amount is split between Fox’s Powered Vehicle Group (PVG) Q1 revenue of $162.75m (€134.01m, +35 percent) and Fox’s Specialty Sports Group (SSG, ...
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News briefsDerby Cycle becomes Kalkhoff
The German bicycle manufacturer Derby Cycle, part of the Dutch Pon Bike Group (PBG; with brands Cervélo, Focus, Faraday, Juliana, Kalkhoff, Santa Cruz and others), will operate under the Kalkhoff brand name in the future. In addition, the historic Kalkhoff site in Cloppenburg will be completely remodeled. A new plant ...
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ArticleBicycle boom gives Austrian specialist retail some record boosts
The record result brought in by the Austrian market in 2020 is not only due to the Covid-19 pandemic. The trend toward bicycles, especially e-bikes, began several years earlier. Today, bicycles are the strongest sales drivers in the Austrian sporting goods market, alongside the ski and outdoor segments. It should ...
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News briefsRose Bikes sets course for the future with new production hall
German DTC bicycle supplier Rose Bikes is opening a new production hall in its hometown of Bocholt. This represents not only expanded production capacity but also reorganized logistics and additional regional employment. According to the family-owned company, there is room for an additional 120 jobs here. Currently, Rose Bikes employs ...
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News briefsBicycle tire manufacturers Vittoria Group and A. Dugast join forces
Dutch bicycle tire manufacturer A. Dugast, best known for its handmade cotton and silk tires for cyclocross, track and road racing, has been fully acquired by Italian bicycle tire giant Vittoria Group. As a result of the deal, A. Dugast’s CEO Richard Nieuwhuis has received an undisclosed minority stake in ...
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News briefsNew Fulcrum distributor in Belgium and Luxembourg
Fulcrum Wheels, an independent wheel company that belongs to the Italian bicycle component supplier Campagnolo Group, has a new distributor in Belgium and Luxembourg. Previously, the German wholesaler and importer Hermann Hartje was responsible for the brand in those countries, but the partnership has now been dissolved and in April, ...
