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HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. notched a sales increase of 3.3% in the first half of its fiscal year, but the company said it could have done better if not for supply and logistical issues.

Tagged Earnings/Financial Reports
Travel restrictions, COVID-19 concerns, inventory challenges among reasons given for bypassing this year's expo.

FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike released its initial exhibitor list this week for the upcoming 29th edition of the expo that will be held for the first time in two years following the COVID-19 pandemic.

(BRAIN) — With 12 weeks to go until the scheduled event, organizers of Sea Otter Australia have decided to postpone it until 2022.

Tagged Consumer Expos and Rides

OSAKA, Japan (BRAIN) — Shimano has re-opened its factory in Malaysia, according to a report out of Europe. The company's factory there had been closed since about June 14, and had operated at 60% capacity for two weeks before that, due to the COVID-19 pandemic.

Tagged Supply chain / Coronavirus
The Garneau Mike Woods limited edition shoe. Photo by Tristan Cardew.

SAINT-AUGUSTIN-DE-DESMAURES, Québec (BRAIN) — Louis Garneau Sports Group expanded into Europe this month with the opening of a distribution center in Toulouse, France.

Tagged Distributor news
Former pro racer Andrea Tonti is among the new investors.
La Passione founders Yurika Marchetti and Giuliano Ragazzi.

BRESCIA, Italy (BRAIN) — Italian consumer-direct cycling apparel brand La Passione has raised 7 million euros ($8.3 million) from a group of investors, including some of its existing investors, new investment funds and "business angels." The amount will be invested over four years.

Tagged Mergers & Acquisitions
Shimano's Singapore offices.

OSAKA, Japan (BRAIN) — An Asian news source is reporting that Shimano plans to invest $179 million to build a new plant in Singapore that will open next year.

Tagged Supply chain / Coronavirus
Cinelli Supercorsa.

MILAN, Italy (BRAIN) — Asobi Ventures Inc. acquired a majority share of Gruppo Srl, the parent company of bike brand Cinelli and tube manufacturer Columbus. The companies did not disclose transaction terms.

Tagged Mergers & Acquisitions
Image from the 2019 edition of IAA Mobility.

MUNICH, Germany (BRAIN) — IAA Mobility, a conference planned for September in Munich, has confirmed several new brand participants, including SRAM, Schwalbe, Supernova, ABUS, EVOC and others.

Tagged Electric bike / Tradeshows and conferences / Eurobike
Two German expo companies form joint venture; Frankfurt show to increase focus on urban mobility.
This September will be the last Eurobike planned for the Messe Friedrichshafen.

FRIEDRICHSHAFEN, Germany (BRAIN) — The Eurobike expo will move from its longtime home in this small city on Lake Constance to the major hub of Frankfurt for 2022.

Tagged Tradeshows and conferences / Eurobike

MONTRÉAL (BRAIN) — Starting Sept. 1, Montréal's Arg Sports Inc. will distribute Sidi products in the Canadian market.

Arg Sports will service IBDs and sell direct to consumers and through e-commerce vendors at MAP pricing, the company said.

Tagged Distributor news

FRANKFURT (BRAIN) — Two of the largest e-commerce retailers in the bicycle market, Germany's BIKE24 and the UK's WiggleCRC, will each end up publicly traded soon. 

TAIPEI, Taiwan (BRAIN) — Taiwan's e-bike exports are on track to exceed regular bike exports for the full year, for the first time.

KUALA LUMPUR, Malaysia (BRAIN) — The Malaysia government has ordered a COVID-19 lockdown to continue at least until June 28, extending the closure of bike factories there by at least another two weeks.

Kent Bicycle's factory in Malaysia is also closed.
2007 BRAIN photo by Matt Wiebe.

OSAKA, Japan (BRAIN) — Shimano's factory in Malaysia will be completely closed until at least June 14 due to an official COVID-19 mandate. Since June 1, the factory had been allowed to operate at 60% capacity.

Tagged Supply chain / Coronavirus

CHICAGO (BRAIN) — Germany-based Abus has reached an agreement to acquire Italian helmet manufacturer Maxi Studio S.R.L. Abus and Maxi Studio have worked together since 2016; Maxi Studio manufactures several of ABUS's premier helmet models.

Tagged Mergers & Acquisitions
No. No, we don't know what it means, either.

CAMBIAGO, Italy (BRAIN) —  A custom-painted Colnago C64 frameset that you can take home and ride and admire will cost you about $6,300.

FRANKFURT, Germany (BRAIN) — Naxicap Partners, a European private equity firm, has reached an agreement to acquire Stromer, the Swiss-based e-bike brand. Details of the agreement were not disclosed. The transaction is subject to customary approvals.

Tagged Electric bike / Mergers & Acquisitions

LONDON (BRAIN) — Jeff Weiss, a veteran of Dorel Sports, Trek Bicycle and Saris Cycling, is joining India's Hero International as the CEO with responsibility for EU and UK sales. 

Wisequity V Fund bought Vittoria Group last July. Selle Royal owns Brooks, Crank Brothers, Fizik, and other brands.

POZZOLEONE, Italy (BRAIN) — Selle Royal S.p.A., — which produces and markets saddles and accessories under the Selle Royal, Fizik, Crank Brothers, Brooks and PedalEd brands — has received a major investment from the Wisequity V Fund. The fund has acquired a one-third share in the company.

Tagged Mergers & Acquisitions

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