THE HAGUE: Dutch transport importer Pon Holdings announced Tuesday it was talking to bicycle maker Accell over a multi-million-euro takeover, which, if approved, will create the “world’s biggest bicycle manufacturer”.
“Pon Holdings confirms that it has provided a non-binding, conditional proposal to Accell Group to combine Accell Group with its own bicycle activities,” Pon said in a statement.
The merger, if approved will “create the world’s largest bike company” it said from its headquarters in the central Dutch city of Almere.
Pon is offering 32.72 euros ($34.64) per share for Accell, which Dutch public newscaster NOS reported is some 20 percent above Accell’s current market value and comes to a total of around 845 million euros.
“The offer is for all our activities including our bicycles and accessories,” Accell chief executive Rene Takens told AFP.
Pon employs some 13,000 people in 32 countries and owns world-famous bicycle brands such as Derby Cycles, Santa Cruz and Union bicycles, as well as the omnipresent Gazelle bicycle brand in The Netherlands.
This year it is expected to sell an estimated 800,000 bicycles around the world with a total turnover of around 700 million euros, Pon said.
Accell in turn has around 3,000 people in 18 countries and owns bicycle factories in China, France, Germany, Hungary, The Netherlands and Turkey.
