Canyon Sells Shares for Realizing Global Ambitions
KOBLENZ, Germany — Roman Arnold, founder and CEO of Canyon Bicycles GmbH, announced yesterday the next step in his company’s ascent as a global cycling brand: expansion into the US. This next step in Canyon’s history includes a partnership with US -based TSG Consumer Partners, LLC.
TSG will hold a significant minority stake in Canyon Bicycles GmbH and the company will remain an independent entity, entirely separate from TSG’s other investments.
“The partnership with US-based TSG is invaluable in helping us successfully develop and navigate the American market, especially in light of its legal and economic particularities,” said Arnold. “This step enables us to realize a corporate goal set a long time ago and for which we’ve prepared exhaustively. We are excited to have found a partner in TSG; specifically, a partner that shares our vision, our values, and our goals.’’
The partnership with TSG confirms Canyon’s expansion plans into the US market and, as a result, its further global ambitions as a leading bicycle brand.
“TSG is proud to be a part of this incredible owner-operated success story,” said Blythe Jack, Managing Director at TSG. “We are especially excited to support Canyon by providing our expertise on the US market, in order to help it achieve its global aspirations.”
Improve world-wide customer service
With TSG’s vast experience in the consumer and retail sectors, Canyon will expand upon and improve world-wide customer service: “Our fans are our focus,” says Arnold, referring to new customers in the US, as well as the hundreds of thousands of customers in Canyon’s existing markets throughout Europe, Asia, and Australia. “Here, too, TSG will be of invaluable support.”
30% year-on-year growth
According to Arnold, the timing for these future-oriented changes at Canyon is ideal. To continue and further its 6-year average of 30% year-on-year growth, Canyon undertook dramatic modernization measures last year when the company opened one of the world’s most modern production facilities at its Koblenz, Germany headquarters. New production and logistics processes were necessary to satisfy the growing global demand for Canyon bikes, and current figures reveal the positive results: in April 2016 Canyon shipped its greatest number of bikes and generated the highest turnover in any one month in its history.
“The demand for Canyon bikes in the US is already very high. But we also want to deliver an exceptional Canyon customer experience, on par with the quality of our products. To successfully accomplish that, we have partnered with TSG. Together we look forward to introducing Canyon bikes in the US in 2017,” confirmed Arnold.