Rossignol Group Started Proceedings for Time Takeover
SAINT-JEAN-DE-MORANS, France – Rossignol Group SA, owner of brands like Dynastar, Kerma, Lange, Look and Risport, entered into negotiations to acquire the French carbon bicycle and parts producer Time Sport International.
According to a Rossignol press release a Time takeover would be a perfect fit, “The activities of Time are complementarity to those of Rossignol.” The overall aim is, “to support the innovations of the Rossignol Group as well as generate strong growth drivers for the bicycle manufacturer.”
Inventor of the cleat pedal
In 2016 pioneering cleat pedal maker Time celebrates its 30th birthday. The company was founded in 1986 by Roland Cattin and his father-in-law Jean Beyl. Roland Cattin died in October 2014 at the age of 65. Jean Beyl, a sporting goods retailer, founded Nevers-based ski binding maker Look in 1951. Today, the ski-part of Look is owned by Rossignol Group.
Beyl is the inventor of the cleat pedal. The innovative ‘PP65’ Look branded cleat pedal was presented in 1984. Look was taken over by Rossignol Group in 1994. Rossignol split Look into two companies: Look Fixations and Look Cycle. While ski binding maker Look Fixations remains part of the Rossignol Group, Look Cycle was divested and is since an independent company.
Time Sports founding
After some arguments with the Look team about further cleat pedal developments Beyl left the company and founded Time Sport International together with his son-in-law Roland Cattin. The company’s goal was to develop the most innovative cleat pedal system.
Carbon production process
Today Time employs 120 people and represents an annual turnover of almost 12 million euro. Roland Cattin’s daughter Julia is CEO. 70% of the Time production is ‘handmade in France’. Next to click pedals the French company is also offering high-end carbon bicycle frames, forks and other components such as handlebars, headsets, seatposts, bottle cages etc. Time relies on an expensive and lengthy carbon production process, called the ‘Resin Transfer Molding’ (RTM).
Stock-listed Quicksilver Inc
In 2005 French Rossignol Group was acquired by leisure apparel maker Quicksilver Inc. The stock-listed US company with Australian roots wanted to balance its summer-sports business with Rossignol’s winter-sports activities. It didn’t work. In 2008 struggling Quicksilver sold Rossignol Group to a group of investors including Rossignol’s former executive director and today’s CEO Bruno Cercley.
‘Made in France’
Today both Rossignol and Time rely on the ‘Made in France’ philosophy and are located in the same region. The two companies HQ’s are only a few kilometres apart. Time has a production facilities in Varennes Vauzelles and Look Fixations in Nevers.
“In the past 30 years, our family company has built a strong identity, anchored in France, a reputation for excellence and a passion which we find at Rossignol as well. Being part of the Rossignol Group gives our people confidence and makes it possible to conquer new markets with every possible asset,” states Time CEO Julia Cattin.