Having recently issued a statement on the Pon acquisition of Derby Cycle, Accell Group NV has today confirmed that it has sold its 22% stake in Derby Cycle AG to Pon Holdings at a price of €28 per share. For Accell Group, this results in a book profit of €17 million on the sale of its shares in Derby Cycle.
On 21 September 2011, Pon Holdings announced its intention to make a public offer for all outstanding shares of Derby Cycle. The agreed price of €28 per share for Accell Group’s stake in Derby Cycle equals the price of the intended public offer.
Accell Group had previously indicated that it had no plans to make a competing offer for Derby Cycle, which owns brands such as Focus and Raleigh.
Accell Group is active internationally in the ‘mid-range and higher’ segments of the market for bicycles, bicycle parts & accessories and fitness equipment. The group claims bicycle market leadership in Europe, with an ‘approach based on the key concepts of quality, innovation and recognisable added value.’
For consumers this means a broad and strong portfolio of brands, including international top brands and well-known national brands, often with a long history. Largely because of its high added value and numerous innovations, the company sells primarily via the specialist retail trade.
Accell Group’s best known brands are Batavus, Koga, Sparta, Winora, Hai Bike, Ghost, Lapierre, Atala, Redline, Tunturi and XLC. The company has production facilities in the Netherlands, Germany, France, Hungary and Turkey.
