Image: Dutch Height / ANP
Dutch Pon.bike, the owner of the bicycle brand Kessel, takes over American Doral Sports, which makes Connaught bicycles and iconic Schwinn bikes.
With the acquisition, the movement team’s gold bicycle division will become the world’s largest bicycle manufacturer. The transaction is just 700 million euros.
The joint bicycle company has an annual revenue of 2.5 2.5 billion. With that amount they knocked the Taiwanese giant out of the house from the throne. The company sells bicycles worth 2. 2.1 billion annually.
Pon has been building his bicycle empire for ten years. In 2012, the family business acquired the Dutch company Kessel. This was followed by the purchase of Calcoff and Focus in Germany, Cervalo and Santa Cruz in the United States and the Dutch urban arrow and PPP bicycle. Pon.bike itself was good at earning 1.5 1.5 billion a year. So now about 1 billion euros will be added from Doral.
Jonas Smallbrook, CEO of Bon Holdings, speaks at a logical action statement for the company. To some extent, the company can better respond to the growing demand for bicycles, including electricity. Cycling is not only healthy, it also plays an important role in combating congestion in cities. It’s a very sustainable mode of transportation, “said Smallbrook.
The transaction is still subject to regular regulatory approvals. It is expected to be completed by the end of the first quarter of 2022.