AMSTERDAM, the Netherlands - Pon Holdings has announced that Peter Woods is step down as President and CEO of the recently acquired Dorel Sports. The decision is in mutual agreement and effectively immediately.

MONTREAL, Canada - Dorel Industries has completed the sale of Dorel Sports, its bicycle segment, to the Dutch mobility group, Pon Holdings. For the sale price of US $810 million, Pon now has brands including Cannondale, Schwinn, GT, Caloi and Mongoose in its hands.

ZEIST, the Netherlands - It's been a busy year for the international bicycle industry. High demand for bicycles, notably e-bikes, driven by the COVID pandemic and the push for greener cities has brought high level investments. But, high shipping costs has brought high blood pressure for those trying to secure parts.

MONTREAL, Canada - For Dorel Sports the consumer demand for all bicycles brands in all categories remained high during the third quarter of this year. As a result the company reports a year-to-date revenue of its sports business of US$891.3 million (€169.9 million),

AMSTERDAM, the Netherlands - In collaboration with a dedicated group of CEOs leading some of the largest multinationals in the cycling industry, Shift Cycling Culture has initiated the Climate Commitment. This is an urgent appeal to acknowledge the industry's responsibility in reaching the UN Paris Agreement target.

WOUDENBERG, The Netherlands - Cannondale is currently at the forefront of the news, following the recent announcement of Pon Holdings' planned acquisition of Dorel Sports before the end of Q1 in 2022. Cannondale is adding to the excitement by announcing the opening of a new assembly sites in the Netherlands and the US.