Accell Group Acquires Ghost

HEERENVEEN, the Netherlands – Accell Group has added the brand Ghost to its portfolio by taking over all shares of this German manufacturer. The company, based in Waldsassen booked a turnover of around € 25 million in 2007.

René Takens, CEO of Accell Group said: “We are pleased that we have been able to acquire an international top brand like Ghost. This is fully in line with our strategy of managing top brands such as Lapierre, Koga and Hai. At the time, we are seeing an increase in the use of bicycles both as a solution to mobility problems (CO2-free mobility) and for recreational purposes. For these purposes, consumers are willing to invest in durable top products.”

The acquisition will be financed through an extension of the current bank facilities. Consolidation will be effective as from 1 March 2008. The current Ghost management will remain in place after the takeover. It is expected that the acquisition will make an immediate contribution to Accell Group’s earnings per share.

Assembly and Purchase

Since its foundation in 1993 Ghost has evaluated into an international premium brand of high-quality mountain bikes and racing bikes. With a staff of around 78, Ghost manages its own assembly activities, which partly take place in the Czech Republic, 10 kilometres outside Waldsassen. Ghost has its own purchasing organisation in Asia and has a strong distribution network through which it supplies specialist bicycle shops in Germany and other countries in Europe.

Ghost sponsors a number of successful international racing teams in the fields of mountain biking, downhill and marathon. Several of their team members have already qualified for a place in the 2008 Olympic Games in Beijing.