Following its attempt to make a full takeover of Accell Group back in 2017, Pon Holdings has issued a release to confirm its intentions to increase its stake in the leading European bike group.
Pon announced that, on 13 November 2018, it acquired 831,430 ordinary shares in Accell Group and now held a total of 2,176,430 ordinary shares, representing 8.2% of the issued and outstanding share capital in Accell Group.
Pon also made an ‘Intended Partial Tender Offer’ in cash for a number of ordinary shares in Accell Group. This would take Pon’s stake to 20%. The ‘Intended Partial Tender Offer’ price from Pon is €19.00 per share. (The 831,430 ordinary shares, acquired in the open market, were ‘at a volume weighted average price’ of €18.80.)
In a release, Accell Group issued a short official statement that… ‘[it] has taken notice of the press release of Pon Holdings in which the company announces its intended partial offer for ordinary shares of Accell Group. The Management Board of Accell Group accepts the invite of Pon Holdings to receive an explanation of the intended partial offer. The Management Board and Supervisory Board will come up with a reaction in due time.’
Pon Holdings – one of the Netherlands’ biggest family businesses – is a leading global company with nearly 13,000 employees operating in 32 countries. It is the owner of a number of bike brands including Cervélo and Focus.
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, Koga, Sparta, Winora, Hai Bike, Ghost, Lapierre, Atala, Redline, Tunturi and XLC.
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).