Link maker

Raleigh owner to acquire

Accell Group, owner of the Nottingham Raleigh brand, and a consortium led by global investment firm KKR have entered into a conditional agreement to purchase the former for a total consideration of approximately 1.56 billion euros (1, £31 billion).

Other well-known bicycle brands in Accell Group’s portfolio include Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Sparta, Babboe and Carqon. Accell Group employs around 3,100 people in 15 countries.

The deal values ​​shares in the Netherlands-based bike, bike parts and accessories maker at EUR58 (nearly £49) per share.

No jobs should be lost in the agreement.

Rob ter Haar, Chairman of the Supervisory Board of Accell Group, said: “The Supervisory Board unanimously supports the transaction and recommends the consortium’s offer,
which we believe will drive the lasting success of the Accell Group. The offer reflects attractive and immediate value for our shareholders.

“Having the Consortium as a strong shareholder focused on enhancing long-term value will enable the Accell Group to grow its business in an accelerated timeframe and strengthen
its position as one of the world’s leading players in the bicycle market, amid continued supply chain volatility and a dynamic global environment full of challenges and opportunities.

Ton Anbeek, CEO of Accell Group, said: “Today’s announcement marks an important milestone for Accell Group. With the consortium as a new shareholder, we will have a financially strong and capable partner to accelerate the deployment of our existing strategic roadmap, improve our global footprint, explore suitable acquisitions and further leverage our scale.

“Thus, the transaction will allow us to take a leap forward as a group, which will also bring better career opportunities to our employees. We continually strive to be a leader in the bike industry by combining smart design and innovative technology with the best value and customer experience.

“With the arrival of KKR as a majority shareholder, and with the continued support of Teslin, we would be able to accelerate the execution of our strategic program, launch new innovations for green mobility and support the people and communities. »

Accell Group acquired Raleigh in 2012 for £62m.