HEERENVEEN, the Netherlands (BRAIN)—Accell Group N.V., via its fully owned subsidiary In2Cycling B.V., has acquired a 5.7 percent stake in the German bicycle group Derby Cycle AG.
Accell Group is familiar with the activities of Derby Cycle and views the investment in Derby Cycle attractive from a financial point of view, according to a press release.
Accell Group appreciates the strong development of Derby Cycle and recognizes the underlying positive trends and successful strategy of the company. Derby Cycle pursued an Initial Public Offering in February this year to bolster its growth initiatives. Through the listing of Derby Cycle on the Frankfurt Stock Exchange, Accell Group could acquire the minority stake to participate in Derby Cycle’s future growth.
The interest of Accell Group can be characterized as a financial investment. There are no discussions
between the companies about potential further interests. Accell Group finances the 5.7 percent stake from existing credit arrangements.