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Gruppo Bici Acquires Canditalia

Published May 20, 2009

BOULDER, CO (BRAIN)—Gruppo Bici N.A. has acquired Canditalia S.r.l., a Milan, Italy-based company specializing in the design of bicycle accessories. Terms of the sale were not disclosed.

“The acquisition of Canditalia was not planned,” said Gruppo Bici N.A. spokeswoman D’Abria Versace. “Rather, we were sourcing a carrier for one of our Cicli Italia bicycles, and we recognized an opportunity in Canditalia and the metrics and our mutual interests supported Gruppo Bici acquiring the company."

Founded in 2005 by two Domus Academy students with a passion for cycling, Canditalia designs bicycle accessories for license and manufacturer by other companies. “Of course we will honor the license agreements but our interest going forward is in further developing the Canditalia brand,” Versace said.

Translating to “Candied Italy” or Italian Bicycle Candy, Canditalia designs include bicycle carriers and locks, accessories found on many Italian city and vintage-style bicycles as original equipment.

“The bicycle lock and newspaper carrier will be featured on our Cicli Italia Città bicycle, which we will unveil in the coming weeks, along with a collection of designer bags under the Canditalia brand," Versace said.

Caditalia may maintain an office in Milan but distribution of all products will be accomplished by Gruppo Bici N.A. Canditalia carriers and locks can be seen online at www.gruppobici.com and should be available to North American consumers and retailers by June 15.

Topics associated with this article: Mergers/Acquisitions

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