ZEG’s Honkomp and Winora’s Puello on Hercules Takeover
COLOGNE, Germany – Both ZEG CEO Georg Honkomp and Susanne Puello, CEO of Accell Germany/Winora Group have issued statements on the ZEG takeover of Hercules. Striking in the ZEG comment is that it states that the takeover price is not to be disclosed by both parties. Accell Group however made clear that ZEG paid about 20 million euro for Hercules.
In his statement Georg Honkomp points to the fact that since the founding of the dealer cooperative back in 1967 there is a strong cooperation between the ZEG and Hercules. ‘Sonder Modelle’ or special models are made for ZEG members at the Accell facility in Hungary.
In 2002 the biggest part of the Hercules production was moved to this, at that time newly opened, bike assembly plant by Accell Group. ZEG will continue distributing Hercules bikes as Accell did which means that these bikes will not only be available for ZEG member/dealers, but also for other German IBDs.
“Hercules fits perfectly in ZEG’s quality, product and brand-strategy and its 1,000 member dealers together with the brands Pegasus, Bulls and Zemo,” says ZEG in its statement to which the company’s CEO added, “We are delighted to be able to integrate this traditional quality brand in our product family and thus to strengthen the German bicycle trade. With Hercules our brand portfolio is now optimally rounded off.”
Accell Germany CEO Susanne Puello says in her statement, “With this decision, our ‘mother’ the Accell Group makes a clear statement on the German market. Already for some time attempts were made to get to a more clear differentiation between the various brands. In particular the brands Winora and Hercules overlapped which, especially in the e-bike range, could not be changed due to similarly structured line-ups. The strong growth of the Winora Group and its continued expansion led to the decision to sell the smaller Hercules brand.
“As CEO of the Winora Group I can now focus more strongly on the brands that have always been based in Schweinfurt, Germany which are Winora, Staiger, SINUS by Staiger, Haibike and XLC. Our goal in the coming year will be to further strengthen our leading position in the e-bike segment and with design and function to bolster this further.”
A few days before the Hercules sale was announced, Winora Group issued a press release that said that the company is investing in a service, repairs and call center. This will be located in a 1,700m² hall. Next to that earlier construction started for a building that will house Winora Group’s competence center for research, engineering and design. “With this we are enhancing the support and attention to our dealers,” says Puello.