ALMERE, the Netherlands – Xeno Grimmelt, Senior Vice President Pon Bicycle Group, Phil White, CEO and co-founder of Cervélo and Mathias Seidler, Chairman of Derby Cycle (pictured here from left to right) have successfully concluded negotiations on the take-over of the Canadian high-end company Cervélo.
Toronto, Canada based Cervélo Cycles will continue to operate independently, retaining its unique identity, innovation and premium brand positioning. This is the same strategy Pon employ with their other Pon Bicycle Group properties, Royal Dutch Gazelle and the German manufacturer Derby Cycle.
Cervélo co-founders Phil White and Gerard Vroomen both remain with Pon Bicycle Group. White will continue in his present role as Cervélo CEO. Vroomen will assume a (part-time) role as Business Development Manager within PBG, focusing on special projects for the Group.
“Cervélo is a unique brand that we are very pleased to bring into the Pon Bicycle Group,” said Janus Smalbraak, CEO Pon Holdings. “With Cervélo we believe there is great potential for growth and we are looking forward to working with them to achieve these goals.”
“The opportunity for Cervélo within Pon Bicycle Group is tremendous,” said Phil White, CEO, co-founder Cervélo. “The combination of Pon’s considerable resources and expertise and Cervélo's cutting edge technology will make us stronger and more competitive as we continue to engineer the best bikes on the planet.”