AMSTERDAM, the Netherlands - The takeover of Germany’s largest bike maker Derby Cycle failed, but Accell Group made a 17 million euro profit on the sale of 22% of the Derby shares to Pon Holdings. With that money Accell Group is now hunting for companies to take-over in Spain and the United States for which it established special acquisition teams.
In a recent interview with a renowned financial newspaper in Holland, Accell Group CEO René Takens said that he is focused on the acquisition of bicycle companies aimed at the so-called new cycling countries in America and Southern Europe.
Accell already has a foothold in South Europe with the 50% ownership of the Italian company Atala. This makes it clear that Takens is mainly looking for acquisition candidates in Spain. In addition, he has high expectations of the US market, in particular because he expects a rapidly developing e-bike sales there.
In the interview René Takens said he did not regret the failed takeover of Derby Cycle; he did not want to pay the top price as Derby Cycle new owner Pon Holdings did.
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