TSG Consumer Partners (TSG), a leading strategic equity investor in high-growth consumer brands, has completed a significant minority investment in Canyon Bicycles. Financial terms of the transaction were not disclosed.
Headquartered in Koblenz, Germany, Canyon is a leading direct-to-consumer bicycle company. It engineers, develops, designs and assembles high-performance bikes, bike parts, accessories and apparel.
Blythe Jack, Managing Director at TSG, said, “TSG is thrilled to partner with Canyon and provide our operational and consumer-focused expertise to help Canyon navigate its next stage of growth and development.
“The partnership will enable the expansion of Canyon into the US and, as a result, the company’s further development as a leading global cycling brand. We are excited to collaborate with Canyon’s talented management team to bring world-class products to more customers around the world, while staying true to its commitment to providing high-quality, innovative and exceptionally designed products.”
Roman Arnold, founder and CEO of Canyon, said, “We are excited to welcome TSG as a partner to work alongside our company as we prepare for the launch of Canyon in the US market. Our vision, values, and goals are very much aligned with TSG’s, and we look forward to accelerating our efforts to expand globally.”
Founded in 1985 as Radsport Arnold, Canyon has operated under the name Canyon Bicycles GmbH since 2001. The Koblenz-based bicycle company engineers, develops, designs and assembles high-performance road racing, mountain, triathlon, urban and fitness bikes, as well as bicycle parts, accessories, and apparel and sells its products consumer-direct via its website, canyon.com.
Canyon bikes are ridden globally at all levels of the sport. The company sponsors top-ranked road and mountain bike teams, including the world number-one ranked Movistar Team, and the reigning IRONMAN world-champion, Jan Frodeno.
The company adds that ‘For many consecutive years, Canyon has been voted as one of the most demanded road and mountain bike brands in Europe, and has won numerous independent tests and awards, including the prestigious German Design Award.’
TSG Consumer Partners is a leading investment firm with US$5 billion of assets under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household and apparel & accessories, and e-commerce sectors.
Representative past and present partner companies of TSG include vitaminwater, thinkThin, popchips, Muscle Milk, Yard House, Stumptown, Pabst, Planet Fitness, REVOLVE, PAIGE, Smashbox Cosmetics, Pureology, Sexy Hair, e.l.f. cosmetics and IT Cosmetics.
www.canyon.com
www.tsgconsumer.com
