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Dorel Purchases Australia's Gemini

Published August 4, 2009

BETHEL, CT (BRAIN)—Cycling Sports Group (CSG) has acquired the assets of Sydney-based Gemini Bicycles for US $2.2 million.

The acquisition will allow CSG’s key brands Schwinn, GT, Mongoose, Cannondale and Sugoi to be united through the just-created Cycling Sports Group (CSG) Australia. CSG Australia, located in Sydney, will coordinate all sales, marketing, distribution and customer service to better support its growing network of dealers in Australia. CSG Australia will evolve in phases; beginning immediately, the new company will distribute Schwinn and Mongoose, followed by Cannondale on January 1, 2010 and GT on August 1, 2010.

“The creation of CSG Australia is in line with our strategy to accelerate our growth agenda globally and to make our operations there more efficient,” said Robert Baird, president of Dorel’s Recreational/Leisure segment. “This new organization will be charged with driving growth within our critical IBD channel by leveraging our excellent portfolio of recognized brands with leading consumer innovations.”

Noel McFarlane, former owner of Gemini, has been named managing director of CSG Australia. McFarlane has owned and operated Gemini Bicycles, the distributor of Mongoose in Australia, for the past 16 years and brings his extreme passion and experience to Dorel.

“As a cyclist and a long-term industry participant, I am eager to take on this new role and grow CSG’s business in Australia,” said McFarlane.

Cannondale’s current operations and management will remain intact in its current location and structure on an interim basis and will be integrated into CSG Australia by January 1, 2010. Lucien Loyens, Cannondale’s current managing director, will continue to lead the brand and build upon an already impressive track record to bring the brand to the next level of success.

GT’s distribution will remain in the hands of its present distributor, Monza Imports, through July 31, 2010, after which it will be fully incorporated into the new division. John Chiodo, managing director of Monza, will ensure a smooth transition to CSG Australia for the loyal GT dealer base. “I am fully confident that dealers will continue to receive high-level customer service and standards they have come to expect,” Chiodo said.

“Dorel has been fortunate to have partnered with Monza and Gemini, two extremely professional and results-driven companies,” said Jeff Weiss, director of international business development for CSG. “They have truly advanced Dorel’s initiatives and we recognize not only their professionalism but their dedication to our customers, and thank them for all their efforts.”

Topics associated with this article: Mergers/Acquisitions

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