Dorel Takes Over Brazil’s Caloi

MONTREAL, Canada – Dorel Industries Inc. today announces it is acquiring a 70% interest in Caloi, the biggest Brazilian manufacturer of bicycles and bicycle equipment with a market share of more than 40%. The Brazilian bike market has an annual volume of about 5 million units.
Eduardo Musa, current Caloi CEO, stays in charge of the company that will become a production hub for Dorel. Caloi´s factory in Manaus will assemble bikes for the company’s brands, such as Cannondale, Schwinn, Mongoose and GT to serve the Brazilian and export markets.