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Former Derby Group Sells Also Derby South Africa

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GUERNSEY, UK (29 October) – Next to the sale of the Winora Group to Dutch Accell (see homepage), the restructuring of the former Derby Group (now called Raleigh Cycle Ltd) continues with the sale of Derby South Africa (Probike). Raleigh Cycle Ltd. Chief Executive Alan Finden-Crofts, announced the Probike sale this morning in the following […]

GUERNSEY, UK (29 October) – Next to the sale of the Winora Group to Dutch Accell (see homepage), the restructuring of the former Derby Group (now called Raleigh Cycle Ltd) continues with the sale of Derby South Africa (Probike).
Raleigh Cycle Ltd. Chief Executive Alan Finden-Crofts, announced the Probike sale this morning in the following statement, “I am pleased to be able to confirm that a management buy-out team, consisting of myself and a number of key managers within the businesses, has now successfully acquired the subsidiaries and assets of the Derby Cycle Corporation. Our Group, to be known as Raleigh Cycle Ltd, will consist of Raleigh America, Raleigh Canada, Raleigh UK and Derby Cycle Werke in Germany, together with our trading companies Raleigh Taiwan and Raleigh China. In restructuring the Group, Winora-Staiger and Wiener Bike Parts in Germany have been sold to the Accell Group and Derby South Africa will be purchased by the local management. Most importantly, we now start off on a sound financial basis. We are debt free and have substantial assets, in contrast to the unsatisfactory arrangements under the previous ownership. This will enable our experienced management teams to focus, once again, on the core task of developing our international brands by designing, marketing and manufacturing outstanding bicycles and parts & accessory ranges. Our suppliers and customers have given us strong support over what has been a difficult time. We now have the structure in place for a successful and prosperous future and we look forward to continuing to work with them, over the months and years ahead”. (JO)

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