The deal marks the latest sign of rising investor interest in the e-bike industry
The Dutch firm that owns Raleigh, one of the world’s oldest cycling brands, will be sold to a consortium of investors led by US private equity firm KKR as a worldwide bike boom continues.
The deal values bicycle firm Accell Group at €1.56bn (£1.31bn), or €58 per share, representing a premium of 26 per cent of the company’s share price at market close on Friday.
Accell reported a 17 per cent rise in sales for the 2020 financial year, representing 900,000 bicycles and reaching a total value of €1.3bn. It said growth was driven by a strong rise in sales of e-bikes as an alternative to public transport.
The deal marks the latest sign of rising investor interest in the e-bike industry, after Dutch bike firm Van Moof raised $128m (£95m) from Hillhouse Capital last year to fund its US expansion, and Cerberus Capital Management made an unsuccessful bid for Canada’s Dorel Industries.
Read more: I News
