TORONTO, Canada - Pon Holdings is about to take over the Canadian high end brand Cervélo. With Cervélo the Dutch holding company that in 2011 took over Gazelle as well as Derby Cycle, acquires a global road racing brand active in the Tour the France as well as many other Pro races.
In a Cervélo statement the company announces to have entered into a ‘financing arrangement’. Cervélo and Pon Holdings have signed a Letter of Intent that enables both parties to agree on a sale of Cervélo in exclusivity.
The Canadian company furthers with, “A potential sale of the company would allow us to continue to grow Cervélo without changing any of the things that make it special.”
“Cervélo was founded 16 years ago and will continue to be based in Toronto, with the same team of people, with the same desire to engineer the best bikes on the planet. It will stand by old products and create new ones, starting with the new P5 which will be launched next month.”
Last year Pon Holdings BV known as an international trade and service organization mainly active in the automotive market acquired the Dutch bicycle manufacturer Koninklijke Gazelle N.V. as well as the German company Derby Cycle. Pon will further strengthen its position on the international bicycle market with the addition of Cervélo to its company portfolio.