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Pon.Bike adds Nimbl shoe brand to portfolio

Published August 31, 2023

AMSTERDAM (BRAIN) — Pon.Bike has added Italian road and track shoe brand Nimbl to its growing portfolio. Terms of the sale were not disclosed.

Nimbl shoes are available worldwide and plans exist to further expand distribution in the U.S. and Europe. The shoes are available online and through retailers.

Its products are handmade at its production facility in Porto Sant'Elpidio and its cycling shoes are worn by hundreds of pros, including Tour de France winner Jonas Vingegaard.

The Pon.Bike family also includes more than 20 premium bike brands — including Cannondale and Cervélo — as well as BBB Cycling, specializing in apparel, accessories, and component design and engineering.

Francesco Sergio, Nimbl's founder and owner, worked at Cervélo for almost 14 years, most recently as its head of sports marketing before departing in 2019. 

Parent company Pon Holdings reported in April that its revenue increased 23% year-over-year to reach $10 billion euros ($10.9 billion) for the first time in company history, while Pon.Bike revenue was 2.4 billion euros ($2.62 billion). The company has 15,700 employees in 34 countries on six continents. Its brands and more than 110 businesses operate in four divisions in addition to Pon.Bike: Automotive, Equipment & Power Systems, and Agricultural Products & Services.

In February, Pon broke ground on a 40,000-square-meter (431,000-square-foot) bike factory being constructed in Lithuania.

In 2022, Pon Holdings completed its $810 million acquisition of Dorel Industries — which included Cannondale, Schwinn, GT, Mongoose and other bike brands. That same year, Pon.Bike announced plans to buy the Dutch e-bike brand Veloretti.

Topics associated with this article: Mergers, Acquisitions & Investments

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