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.

MONTREAL, Canada - Dorel Industries has terminated the going-private transaction which was announced last November. To convince the current owners, an initial offer of Cerberus Capital Management LP representing the buyers was raised two weeks ago. But it did not convince the two main shareholders of Dorel Industries.

MONTREAL, Canada - The impact of COVID-19 worked out very well in the third quarter results for Dorel Industries. Dorel' sports division with market brands including Cannondale, GT, Schwinn and Mongoose achieved the highest earnings in its history.

MONTRÉAL, Canada - Dorel Industries has reached an agreement in principle whereby Dorel would be taken private by a buyer group led by affiliates of Cerberus Capital Management, LP and the current shareholders of families Schwartz and Segel.

MONTREAL, Canada - Dorel Industries Inc., owner of bicycle brands including Schwinn, Mongoose and Cannondale has reported its Q1 results for 2020. The financial statement shows that coronavirus has interrupted an otherwise solid start to the year. Dorel Sports, which includes the bicycle segment, has recorded a fourth consecutive quarter of revenue growth with April bicycle sales surging.

Dorel's Sports segment, including the brands Cannondale, Schwinn, Mongoose, GT, Caloi, and Sugoi, continues to put heavy pressure on the Group's results.