HEERENVEN, the Netherlands (BRAIN)—Dutch bike maker Accell Group has formed teams to scout acquisition candidates in North America and Southern Europe, according to a Dutch press report cited by the Bike Europe newsletter.
The news comes two weeks after Accell Group reported it earned a €17 million windfall from its 22 percent stake in Derby Cycle. Accell Group abandoned its bid for rapidly growing Derby Cycle after it reached an agreement to be acquired by Pons Holdings, a Dutch company that owns the Gazelle bike brand. Derby Cycle has been growing rapidly in part do to its strong position in e-bikes in its native Germany.
Accell Group is reportedly interested in U.S. companies serving the e-bike market, which has been developing much faster in Europe. Bike Europe attributed the report to an interview between Accell Group Chairman Rene Takens and a leading Dutch financial newspaper.