VICENZA, Italy (BRAIN) — Campagnolo has announced that SPAC SA has made a "strategic minority investment" in the company, with the Campagnolo family retaining control and majority ownership of the company. SPAC SA is a Zurich, Switzerland-based holding company tied to Ivan Glasenberg, who is also an investor in Pinarello and the Q36.5 apparel brand and professional race team.
Campagnolo. which dates to 1933, said the new investment will bring resources and strategic expertise that will "accelerate the company's transformation and further strengthen its position for the future."
Campagnolo said it will continue to operate entirely independently from SPAC's other investments in the cycling industry, including Pinarello.
"Relationships with bicycle manufacturers and commercial partners will continue on an independent basis, with the objective of building strong and sustainable long-term partnerships," the company said.
A press release quote attributed to the Campagnolo family said, “We are delighted and proud to enter into this partnership with SPAC, a strong and experienced partner that shares our vision for Campagnolo’s future. Their investment gives us additional strength to accelerate the company’s evolution while preserving the values, engineering culture and Italian identity that have always defined us. Our family remains firmly committed to Campagnolo’s future and looks to this new chapter in our history with great confidence.”
A quote attributed to the SPAC SA said, "Campagnolo is one of the great names in cycling, with an engineering heritage and a record of victories that few companies in any industry can match. We were drawn to this investment by the quality of the underlying business and the clarity of the transformation plan the Campagnolo family and management have put in place. We are pleased to support them as a minority partner, and confident this is the beginning of a strong next chapter for the brand.”
Glasenberg bought Pinarello from LVMH-backed L Catterton in 2023 for a reported 200 million euros, also reportedly injecting another 50 million euros to fuel the bike brand's growth. He acquired the Q36.5 brand earlier. The race team, which includes British star Tom Pidcock, currently races on Pinarello bikes with SRAM components.
