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Stromer merges with Spanish e-bike brand Desiknio Cycles

Published April 4, 2022

OBERWANGEN, Switzerland (BRAIN) — Stromer reached an agreement to merge with Spanish e-bike brand Desiknio Cycles SL. Details of the transaction, which is subject to customary approvals, were not released.

Desiknio will be an independent subsidiary under the leadership of founder Joaquin Cortes, who started the brand in 2017. Its models are known for being lightweight, between 28-33 pounds. Stromer said the acquisition will help expand its e-bike portfolio and become one of Europe's leading advanced mobility solution providers.

"The Stromer and Desiknio brands complement each other perfectly, both in terms of values and our portfolio, which we can now expand to include e-bikes for urban traffic with electric assistance up to 25 km/h," said Jakob Luksch, Stromer CEO.

In the short term, the partnership will allow the brands to be combined, especially in sales, with Desiknio having access to Stromer's network. In the medium term, R&D and supply chains will be synergized, the companies said.

Stromer employs about 140 people and currently has over 90,000 customers. The company's growth strategy focuses on expansion into new markets, scaling of the business model, and product development.

"Desiknio is extremely proud to have joined forces with Stromer, a leading brand in the e-bike market," Cortes said. "This partnership has been formed through a synergy the two brands share for sustainable mobility, design aesthetics, and technology, advancing their products and the e-bike market as a whole."

Topics associated with this article: Electric bike, Mergers, Acquisitions & Investments

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