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SAN VENDEMIANO, Italy (BRAIN) — Cytech, which dominates the OE cycling padding market with its Elastic Interface brand, has acquired Pasasport S.r.l., an OE glove maker.

Tagged Mergers, Acquisitions & Investments

ANTWERP, Belgium (BRAIN) — Classified Cycling has raised 22 million euros ($22.9 million) from an investment led by London-based Active Partners. Active Partners is a past investor in Rapha and retailer Evans Cycles.

LONDON (VELONEWS) — Rapha's CEO William Kim will step down, with Francois Convercey and Daniel Blumire taking over as joint managing directors, the company announced.

DESDEN, Germany (BRAIN) — German e-commerce retailer Bike24 had third-quarter sales of 72.6 million euros ($73.8 million), up 12.9% from the same period last year.

Tagged Earnings/Financial Reports

(BRAIN) — TheInformation.com, a tech trade title, is reporting that Sequoia Capital's China wing has made a recent investment in the e-bike brand Aventon. The investment would value the company at $590 million, according to the report, which cites two anonymous sources.

Tagged Electric bike / Mergers, Acquisitions & Investments

TAIPEI, Taiwan (BRAIN) — Giant Group's net sales totaled NT$70.87 billion ($2.2 billion) through its first three fiscal quarters, a 14.4% increase over the same period last year. 

Tagged Earnings/Financial Reports
U.S industry veteran Nick Howe is named global sales manager.

MALLABIA, Spain (BRAIN) — Orbea, which said it has grown significantly in the last 7 years, is reorganizing its executive team to adjust. The reorganization includes the promotion of U.S. industry veteran Nick Howe from U.S. country manager to global sales manager.

TREVISO, Italy (BRAIN) — Cicli Pinarello said its sales were up 24% in its most recent fiscal year, which closed June 30. The company had sales of 84 million euros ($83.6 million at today’s exchange rate) according to a press release.

Tagged Earnings/Financial Reports

TAIPEI (BRAIN) — Taiwan's Cabinet has approved a plan to end a stringent COVID-19 quarantine requirement that has discouraged foreign visitation. On Oct. 13, the country will likely lift the plan, which currently requires a three-day full quarantine followed by four days of mandatory health screening.

Tagged Coronavirus

CAVARZERE, Italy (BRAIN) — The Bottecchia bicycle company and local media are reporting that a large fire destroyed part of Bottecchia's production headquarters here on Sunday. On social media, the company said no employees were hurt and the extent of damage is still unknown.

FRANKFURT (BRAIN) — For the first time, Eurobike is offering exhibitors the option to attend only the event's three trade days and not the event's final two-day consumer bike festival.

Tagged Eurobike

TACHERTING, Germany (BRAIN) — PIERER Industrie AG has acquired a majority stake in the component brand Syntace and its bike brand, Liteville.

Tagged Mergers, Acquisitions & Investments

AMSTERDAM (BRAIN) — Pon.Bike, owner of Cannondale, Cervelo, Santa Cruz, Gazelle and other brands, has announced plans to buy the Dutch e-bike brand Veloretti. Veloretti was founded 10 years ago and sells bikes consumer direct in Europe.

Tagged Electric bike / Mergers, Acquisitions & Investments
Supply-chain constraints limit sales; company opens new office in Taiwan.
Felt shared display space with Husqvarna at the Eurobike show in July.

Wels, AUSTRIA (BRAIN) — Pierer Mobility AG — the Austrian company that owns Felt Bicycle and the Husqvarna, GASGAS and R Raymon e-bike brands — said its sales of e-bikes were down 12% in the first half, partly due to supply chain constraints.

Tagged Electric bike / Earnings/Financial Reports

DRESDEN, Germany (BRAIN) — Germany-based bike e-commerce retailer BIKE24 said its sales were up just 1% in the first half of its fiscal year to 128.8 million euros ($132 million) amid what the retailer called "a challenging environment." The company pointed to its expansions into the French, Spanish and Italian mark

Tagged Earnings/Financial Reports

DENKENDORF, Germany (BRAIN) — Canada's Bombardier Recreational Products has taken a majority share in Pinion GmbH, the German maker of gearbox drivetrains for bikes and e-bikes.

BRP is the owner of Ski-Doo and Sea-Doo, among other brands, including Rotax and Great Wall Motor Austria powertrain systems.

Tagged Mergers, Acquisitions & Investments

TAIPEI, Taiwan (BRAIN) — Giant Group announced its first half consolidated sales were NT$45.01 billion ($1.5 billion ), a 7.2% increase over the first half last year.

Tagged Earnings/Financial Reports
LeBron James (left) and Maverick Carter at a 2019 event. Getty photo.

KOBLENZ, Germany (BRAIN) — Canyon Bicycles announced Friday that two investment groups have taken "strategic equity investments" totaling $30 million in the Germany-based company.

Tagged Mergers, Acquisitions & Investments

OSAKA, Japan (BRAIN) — Shimano Inc.'s bike-related sales were up 17.2% in the first half of the year compared to the same period last year, while the company's operating income in its bike segment increased 20.2%.

Tagged Earnings/Financial Reports
2023 show will be mid-June in Frankfurt.
We're not in Friedrichshafen anymore.

FRANKFURT (BRAIN) — Organizers claimed success for the first Eurobike to be held in Frankfurt, which wrapped up Sunday.

Tagged Eurobike

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