International
HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. said its sales were up 38% between July and October compared to the same period last year. The company has revised up its forecast, now saying its full-year earnings before interest and taxes will exceed last year's EBIT.
MONTRÉAL (BRAIN) — Raymond Lanctôt LTD has signed a multi‐year agreement to distribute Mavic products in Canada.
KOBLENZ, Germany (BRAIN) — KKR & Co. and Carlyle Group are among the private equity firms looking at Canyon Bicycles, according to a Bloomberg report citing sources who asked to remain unidentified.
FRIEDRICHSHAFEN, Germany (BRAIN) — Organizers of the Eurobike trade show which had planned a down-sized event for Thanksgiving week this year, announced early Friday that the event will be canceled due to a coronavirus outbreak in the region.
GIRONA, Spain (BRAIN) —The Sea Otter Europe cycling festival has been canceled, but organizers said that some of the event's races will be held under stringent COVID-19 measures. The event was to have been held Sept. 25-27.
KOBLENZ, Germany (BRAIN) — Canyon Bicycles announced news on several fronts Tuesday.
TAIPEI, Taiwan (BRAIN) — Organizers of next March's Taipei Cycle show have added a virtual element to the event.
LONDON (BRAIN) — Indoor smart bike maker Wattbike has received an investment of 11.5 million pounds ($14.8 million) from Piper, a UK-based private equity firm specializing in consumer brands.
DEL MAR, Calif. (BRAIN) — With Uwe Kalliwoda, Benno Bikes founder and managing director Benno Baenziger has brought an experienced industry player into the team, who after an extensive career and two-year time-out, will become an actively involved partner.
MONTRÉAL (BRAIN) — Louis Garneau Sports' proposed restructuring plan would allocate about $550,000 Canadian dollars ($418,000) to be shared by the company's unsecured creditors, who are owed about CA$12.8 million, according to official documents released this week.
(BRAIN) — Many brands use the upcoming Tour de France to show off their new products or team kit. FSA and Vision are using the opportunity to show off the apparel being provided to mechanics in teams the brands sponsor at the race.
SAINT-AUGUSTIN-de-DESMAURES, Québec (BRAIN) — Louis Garneau Sports, which filed for bankruptcy protection in March, is presenting a new debt-restructuring plan to its creditors. The company said it has lined up a group of investors who will help it relaunch and keep it headquartered in Québec. The company did not reveal the identity of the investors.
TAICHUNG, Taiwan (BRAIN) — Giant Group's second-quarter sales were NT$19.7 billion ($669.7 million) and its earnings per share were NT$4.06, a company record high.
OSAKA, Japan (BRAIN) — Shimano reported Tuesday that its first-half sales in its bicycle products division were down 14.6% from the same period last year, to 123 billion yen ($1.2 billion); operating income in the segment was down 19.7%.
HEERENVEEN, Netherlands (BRAIN) — Accell Group saw sales growth of 53.1% in June, helping the Dutch bike company record a first-half sales increase of 4% despite European retail shutdowns in March and April.
GRENOBLE, France (BRAIN) — The French investment group Bourrelier, the former owner of the Bricorama home improvement retail chain, appears to be set to take over Mavic, which is in receivership.
GRENOBLE, France (BRAIN) — Fox Factory has removed itself from the bidding to acquire Mavic SAS, which is in receivership in France. However, about 13 other groups, including several with ties to the bike industry, have expressed interest in the company.
BREMBATE, Italy (BRAIN) — The owners of Vittoria Group, including founder and president Rudie Campagne, have sold the tire maker to Wise Equity, an Italian group.
OSAKA, Japan (BRAIN) — Shimano's chairman emeritus and former chairman Yoshizo Shimano died of chronic heart failure at 85 on July 3.
"The contributions he made to Shimano's business cannot be measured and his impact will be felt forever," the company said.
(BRAIN) — The United Kingdom bike industry says e-bike sales growth stalled in Q1 and during the country's COVID-19 lockdown. The industry is urging the government to provide financial incentives for e-bike purchases and create a public awareness campaign to encourage the use of e-bikes for transportation.
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