A French distributor specializing in the bicycle sector, Royal Velo France (RVF), has come under the control of Esteem, a group controlled by Peter Hughes. Christian Soenen will continue to run the company, with a minority stake, reporting to Hughes in his new role of president. RVF, which is expected to generate sales of €5 million this year, has been the French distributor in the bike retail channel of brands such as Camelbak, Finish Line, Fizik and Sidi for a long time. The distribution of Camelbak in the outdoor sector is still handled by JCP, despite the distributor's recent change of ownership. After losing the distribution of some other brands, RVF was placed in preliminary bankruptcy on Oct. 2, 2012, due to the financial difficulties of its parent company, RAS, which distributes motorcycles and scooters. RVF's new owners will carry out a capital increase in the next months and propose a business plan that will retain the majority of the employees in Troyes. RVF will try to obtain the distribution of other brands. Esteem is also a shareholder of Sportpulsion, a French company run by Hughes that distributes Northwave and other brands in the trekking, snow and nautical sports sectors including Drake, Jones Snowboards, Lowa, Montane, Osprey, Liquid Force, Hyperlite and Ronix. Based in Annecy, Sportpulsion has annual sales of around €14 million.

Topics