Rossignol Group Expand Investments in Cycling Activities
SALLANCHES, France – Rossignol Group SA, owner of snowsports and bike brands like Dynastar, Kerma, Lange, Look and Risport, has reached an agreement for buying US based Felt Bicycles. The Felt takeover is Rossignol’s 2nd investment in cycling and comes after the December 2015 take-over of the French carbon bicycle and parts producer Time Sport International.
Rossignol is expanding its offering in cycling in order to reduce its dependency on snowsports. After the Time Sport International takeover in 2015, a 10 million euro business, it’s now acquiring Felt which is said to generate annual sales of some 56 million euro in sales.
Revenues from cycling to triple
According to a Reuters report Rossignol’s annual sales stands at 243 million euros. The biggest money maker for the company is in exporting and sales of ski equipment. According to CEO Bruno Cercley Rossignol is to triple the revenues from cycling activities within four to five years.
Felt Bicycles was founded by Jim Felt; a triathlete as well as top motorcycle mechanics. In 2001 he partnered with bicycle industry veterans Bill Duehring and Michael Müllmann and expanded into BMX, lifestyle, track racing and mountain bikes. Currently Bill Duehring is Felt Bicycle’s president. Michael Müllmann is president of Felt Europe as well as owner the German distributor Sport Import. It is said that Müllmann wanted to sell his stake in Felt Bicycles and that this triggered the takeover by Rossignol.