RHEDA-WIEDENBRÜCK, Germany - Following a "lively bidding process" the German bicycle and e-bike manufacturers Prophete and Cycle Union have been successfully taken-over. No stranger to the bicycle industry, the new owner Singapore-based Dutech Group, is on a path to strategically expand its focus on green technology. The parties have agreed not to disclose the purchase price.

BIELEFELD, Germany - The end has come for the bicycle production and trade consortium owned by the Prophete and Lönne families. The involvement of the Prophete family goes back to 1908 when the company was founded, while the Lönne family stepped in in 1970 to build a cycling business that is active worldwide.

OLDENBURG, Germany - Mass merchant supplier Prophete GmbH & Co. KG and IBD supplier Cycle Union filed for insolvency yesterday. Already in mid-2019 Prophete ran into difficult waters and owner families Lönne and Prophete brought in a turnaround consultancy. It now turns out that this was not enough.

OLDENBURG, Germany - Cycle Union's sales, marketing and product managing director Frank Aeschbacher has taken up a new position at mother company Prophete Group. Aeschbacher succeeds Dirk Vroomen and is now responsible for all sales, marketing and product management of Prophete Group.

RHEDA-WIEDENBRÜCK, Germany - Mid-2019 German bicycle supplier Prophete Group ran into difficult waters. The owner families Lönne and Prophete brought turnaround consultancy Struktur Management Partner GmbH on board. Interim manager Felix Schwabedal was tasked with designing and implementing the restructuring.

OLDENBURG, Germany - Steel frame specialist bike brand, vsf fahrradmanufaktur, has, until now, been associated with touring and utility bikes. However, their recent launch of a high quality, limited edition gravel bike looks to expand their reputation into a new product category.