Brewery New Owner of Eddy Merckx Cycles
ZELLIK, Belgium – Brewer Jan Toye is the new majority shareholder of Eddy Merckx Cycles (EMC). He multiplied his minority shareholder by buying all the shares of former majority shareholder Joris Brantegem. Jan Toye now owns 85% of the bicycle company. Founder Eddy Merckx still retains 6% of the shares. CEO Kurt Moons holds a 9% stake.
In 2008 Eddy Merckx brought in investor Joris Brantegem, the founder of the retail chain Brantano, as the new main shareholder. Following the sale of Brantano, Joris Brantegem has been active with his private investment fund Sobradis.
Brantegem had 65% of the EMC shares while Jan Toye owned 20% via its holding Diepenstyn. This fund also owns Palm Breweries.
Pacemaker for Merckx
Road race icon Eddy Merckx got a pace maker last Friday, March 22. In 2012, the company EMC lost € 2 million on a total turnover of € 14.6 million.
Last week in a report on Bike-EU.com Dave Luyckx, engineer of EMC stated: “Since three years we are plotting the course for the future and we aim to reclaim our position as leading, innovative racing bike brand.”