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Pon Holdings makes offer to buy Accell Group

Published April 11, 2017

AMSTERDAM (BRAIN) — Accell Group announced Tuesday that it had received a takeover offer from Pon Holdings for 845 million euros ($895 million).

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Accell owns Raleigh, Diamondback, Haibike, Ghost, Winora, Lapierre, Batavus, Sparta, Koga and other brands. Pon owns Cervélo, Santa Cruz, Focus and Gazelle, the largest Dutch bike brand.

"After a detailed assessment of the strategy and performance of Accell Group, Pon Holdings has concluded there is an excellent strategic fit between the bike activities of both
companies with benefits for all stakeholders. The combination results in the world's leading global bicycle company," Pon said in a statement.

Accell said it was studying Pon's proposal to pay 32.72 euro per share, 27 percent more than its closing price of 26.53 euros on Monday.

 

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