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Accell Buys German Bike Maker Ghost

Published February 27, 2008

HEERENVEEN, Netherlands (BRAIN)–Accell Group is buying Ghost Mountainbikes, a high-end German bicycle brand, adding yet another premium bike company to its ever-growing corporate portfolio.

The Netherlands bike and fitness equipment conglomerate, which recently purchased Seattle Bike Supply/Redline in the United States, will complete the transaction on March 1, said René Takens, Accell’s chief executive officer.

“We are pleased that we have been able to acquire an international top brand like Ghost. This is fully in line with our strategy of managing top brands such as Lapierre, Koga and Hai. At the time, we are seeing an increase in the use of bicycles both as a solution to mobility problems (CO2-free mobility) and for recreational purposes. For these purposes, consumers are willing to invest in durable top products,” Takens said.

Ghost generated around 25 million euros (approximately $37.8 million at Feb. 27 exchange rates) in revenues last year, and Takens said he expects it to immediately begin contributing to Accell’s bottom line. Ghost employs about 78 people; current management will stay in place.

Ghost sources products from Asia and assembles mountain and road racing bikes in facilities at its headquarters in Waldsassen, Germany, and just across the international boundary in the Czech Republic. It is a well recognized brand throughout Europe, sold through the independent retail channel.

Purchase price was not disclosed.

—John Crenshaw

Topics associated with this article: Mergers/Acquisitions

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