Accell Group Acquires Next German Distributor

HEERENVEEN, the Netherlands - Accell Group has acquired all shares of the German company Bäumker & Co. GmbH. Bäumker is a trading company in bicycles, bicycle parts and accessories based in the German city Rheine and is among others distributor for Accell Group’s brand Batavus.

Bäumker operates on its home market via a regional network of dealers, generally in northern and middle Germany.

René Takens, CEO of Accell Group: “We will finance the acquisition from our own resources and Bäumker will be consolidated effective as of January 2010. The current management of Bäumker will remain in place.”

According to René Takens, Bäumker is a strong player in the market for bicycles and bicycle parts in the German state Nordrhein-Westfalen. “Through acquiring the distributor, our brand Batavus will be able to expand its commercial activities in Germany complementary to the existing sales channels. It also offers more opportunities for the sale of e-Bikes”.

Bäumker supplies retailers and specialist stores of bicycles and bicycle parts. Since its incorporation in 1931, the company has built a reputation as a reliable and respected supplier. Bäumker has around 35 employees and recorded a turnover of around € 10 million in 2008 with a modest profit.

Accell Group Strengthens German Market Position With Acquisition

Germany is Accell Group’s second market after the Netherlands. Via its subsidiaries Wiener Bike Parts, Hai Bike, Hercules, Staiger, Winora and Ghost Accell Group booked a turn-over of € 124.6 million in 2008, a growth of 25.6% related to 2007. The turn-over of the whole group was € 538 million in 2008. During the first six months of 2009 Accell Group’s turn-over in Germany grew by 14% to € 84 million (total Accell Group € 333 million) mainly as result of rising sales of e-Bikes as well as parts and accessories. Last year Accell Group’s subsidiary Winora also opened a new warehouse to strengthen its position on the market of parts and accessories.