ZEG’s Take-Over of Kettler’s Bike Division Approved by Authorities
COLOGNE, Germany – The creditors committee and the German Federal competition authorities have officially approved the acquisition of Kettler’s bicycle division by dealer cooperative ZEG.
Mid November ZEG and Heinz-Kettler GmbH & Co. KG announced that the dealer cooperative intended to take-over Kettler’s bicycle division, including the factory in the German town of Hanweiler. However this divestment, part of Kettler’s financial reorganization was subject to approval from the German competition authorities as well as the Kettler’s creditors.
Expanding reach in the supply chain
With the approval by the creditors committee and the German Federal competition authorities, ZEG expands its reach in the bicycle supply chain from dealer support only to manufacturing as the Hanweiler factory is the first production location owned by the Cologne, Germany based dealer cooperative.
New ZEG subsidiary
To handle production, sales and distribution ZEG founded a new subsidiary named Kettler Alu-Rad GmbH. The approximately 80 employees of the factory will keep their jobs in Hanweiler.