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Accell Group confirms approach from Cervélo owner Pon Holdings

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In anticipation of market rumours, Accell Group has today announced that it has received a non- binding, conditional proposal from Cervélo owner Pon Holdings to combine Accell Group with its own bicycle activities. The proposal from reportedly involves a public offer for all issued and outstanding shares of Accell Group at an indicative offer price of €32.72 per share in cash, including the 2016 proposed dividend of €0.72.

In response to the proposal Accell Group is having exploratory discussions with Pon Holdings. ‘The Supervisory Board and Executive Board of Accell Group are carefully reviewing and considering all aspects of the proposal, together with their financial and legal advisors.’

In a release, Accell Group adds that I will take into account the interests of all its stakeholders. ‘There can be no assurance any transaction will result from these discussions. Further announcements will be made if and when appropriate.’

Accell Group NV focuses internationally on the mid-range and higher segments of the market for bicycles and bicycle parts & accessories. The company claims leading positions in the Netherlands, Belgium, Germany, Italy, France, Finland, Turkey, the United Kingdom and the United States. In Europe, Accell Group is ‘the market leader in the bicycle market in terms of turnover’.

Accell Group’s best known brands are Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), Loekie (Netherlands), Ghost (Germany), Haibike (Germany), Winora (Germany), Raleigh and Diamondback (UK, US, Canada), Lapierre (France), Tunturi (Finland), Atala (Italy), Redline (US) and XLC (international).

Accell Group and its subsidiaries employ approximately 3,000 people in 18 countries worldwide. The company has production facilities in the Netherlands, Germany, France, Hungary, Turkey and China. Accell Group products are sold in more than 70 countries. The company’s headquarters are located in Heerenveen (the Netherlands). Accell Group shares are traded on the official market of Euronext Amsterdam and included in the Amsterdam Small Cap index (AScX).

www.accell-group.com
www.pon.com

 

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