Following a period of uncertainty for Mavic, a commercial court in Grenoble, France, has confirmed DIY retail specialist Bourrelier Group as the new owner of the French bike accessories brand.
Bourrelier Group was approved as Mavic’s new owner, out of 14 bids for the business, after the accessories brand had been put in receivership. The business plan for the new Mavic operation secures 105 staff roles. Although, 100 employees will sadly lose their jobs.
In July 2019, Amer Sports completed the sale of the shares and related cycling business of Mavic to private equity firm Regent.
A statement this week from the French commercial court gave a background to its decision and was briefly scathing about Mavic’s former owners…
After long months of uncertainties and difficult stages, Mavic employees see the horizon emerging.
During this judicial turnaround with fourteen applicants, Bourrelier Group largely detached itself and crossed the finish line with a comfortable lead.
At the helm of the Commercial Court of Grenoble, the procedural bodies have unanimously validated the Bourrelier Group project.
Indeed, we have met an entrepreneur with a human dimension and a sense of dialogue. It presented us with a coherent project that refocuses on Mavic’s fundamentals and relies on significant own financial resources while retaining 105 employees, which seems to us to be in line with the announced business plan.
Despite this good recovery, we regret that around 100 employees will lose their jobs, which is the direct consequence of the mismanagement of the former owners (Regent LP / M-Sports and Amer Sports) during the previous years.
We wish Mavic and Bourrelier Group good luck in this new challenge.
CSE (French Commercial Court)
Bourrelier Group, formerly Bricorama SA, is a family business listed on the stock exchange (Euronext Growth) since 1996. Founded in 1975 by Jean-Claude Bourrelier, the group has developed strongly in specialized DIY retail, under the BRICORAMA and Batkor brands, in France and Spain; as well as Karwei and Gamma in Belgium and Holland.
At the end of 2017, following the sale of its DIY activities in France and Spain, the company became Bourrelier Group SA. Today, with 1,500 employees, it is continuing to develop its DIY activities in Belgium and Holland under the GAMMA and KARWEI brands.
www.mavic.com
www.bourrelier-group.com
