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VanMoof acquired by e-mobility company Lavoie

Published August 31, 2023

LONDON (BRAIN) — British e-mobility company Lavoie has acquired VanMoof and intends to stabilize, grow, and develop the Dutch e-bike brand that declared bankruptcy in July.

Acquisition terms were not announced.

Lavoie is part of global technology company McLaren Applied, which was connected to the McLaren Group — also consisting of McLaren Automotive and McLaren Racing — for 20 years but now is under different ownership.

"The acquisition of VanMoof underscores our commitment to strengthen and grow our world-leading e-mobility business," said Nick Fry, McLaren Applied chairman. "We see a huge potential to transform the way people travel around the congested cities of the world in a more active and enjoyable way. This exciting deal helps us to accelerate global growth, allowing us to increase the scale and quality of products and services we can offer to our customers. We are fully committed to being leaders in manufacturing premium e-mobility products that are redefining the category with each ride."

VanMoof e-bikes will join Lavoie's e-scooter lineup.

"With its next generation of e-bikes, smart technology, innovative design, and loyal customer base, VanMoof and Lavoie fit together perfectly," said Eliott Wertheimer, Lavoie CEO. "VanMoof has 190,000 customers globally, and our commitment is to continue to keep those riders on the road whilst we stabilize and efficiently grow the VanMoof business and continue to develop its world-class products."

The court of Amsterdam withdrew suspension of payment proceedings in mid-July to clear the way to the asset sale. The company's legal entities outside of the Netherlands were not involved in the insolvency proceedings.

VanMoof was granted court protection earlier in July with the company not accepting new orders on its website several weeks before. At the time, the company said it would stop accepting orders "to catch up on production and delivery of existing orders."

Earlier this year the company said it would close if it didn't receive a new cash infusion, which it received from some of its existing investors.

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

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