AMSTERDAM, The Netherlands - The Public Prosecution Service in the Netherlands has decided to discontinue its criminal investigation into cargobike manufacturer Babboe B.V. The company was suspected of producing and marketing certain types of (electric) cargo bikes that allegedly had safety issues.

WASHINGTON, USA - The initial investigations into Accell Group-owned Babboe for selling defective cargo bikes caused a stir earlier this year in the Netherlands and across Europe. Owners had been told to stop riding their Babboe due to the hazard of breaking frames months ago, but only on 20 June the US Consumer Products Safety Commission (CPSC) issued a recall notification.

AMERSFOORT, the Netherlands - Accell Group subsidiary Babboe has issued a recall and replacement program for in total 22,000 cargo bikes. The first batches will be collected in the Netherlands and Germany in mid-April, after which the recall campaign will be rolled out in the other countries. All owners of these models will be offered a new bicycle or cargo bike.

BERLIN, Germany - Bicycle production and sales in Germany attained very high levels in 2023, comparable to the bicycle boom in 2020. Despite the generally negative consumer climate, sales value of bicycles and e-bikes combined in Germany only slightly decreased by 4% from €7.36 billion in 2022 to €7.06 billion last year.

HEERENVEEN, the Netherlands - The financial situation for KKR owned Accell Group is becoming increasingly challenging. A group of lenders decided to select advisers to assess options for the bicycle manufacturer amid struggles spurred by waning demand and operational hurdles. Accell is also facing an expensive recall of the Babboe cargobike and at the same time the union might shut down one of the Heerenveen factories later today.

AMERSFOORT, the Netherlands - Babboe has announced the inevitable recall of its cargo bikes after receipt of numerous reports of frame breakage as reported last week. For now, it regards the City, City E, Mini and Mini E models only. Whether all other Babboe cargobikes will follow in this recall is not clear yet. "We are currently consulting with the Netherlands Food and Consumer Product Safety Authority (NVWA) on taking further steps."