By Jo Beckendorff
KOPŘIVNICE, Czech Republic (BRAIN) — After more than a year of negotiations the Czech Republic bike manufacturer Bike Fun International s.r.o. has changed ownership.
Following the official announcement Nov. 20, the company declined to reveal the sales price.
"The sale of BFI has been our long-term goal. In recent years, the company has entered such a rapid phase of growth that me and other owners have not been able to finance it in the long run. And just at the right time we were contacted by the Consillium investment group who have the necessary funds to finance the company's growth. I am glad that BFI will be in Czech hands," said BFI founder and CEO Mark de Kwant. Together with the top management, de Kwant remains in charge of the company.
Until now, BFI has been in the hands of a Dutch investor group around de Kwant. Under their guidance the manufacturer is not only relying on its three private label brands (Superior, Rock Machine and Frappé) that they preferably sell on the European market, but also on increasing close-to-market OEM-production.
The BFI factory in Kopřivnice (about 10 miles south of Ostrava airport) produces almost 200,000 bicycles and e-bikes per year. In addition to its own R&D, paint shop and bicycle assembly, the company is also engaged in the development of an electric drivetrain called "Sport Drive" and the production of bicycle accessories under the brand name "One Bikeparts." BFI's total revenue last year was 105 million euros ($124.21 million) – and according to the company sales are still on the rise.
BFI is now completely taken over by ConsilTech a.s. — a member of the Czech Consillium group owned by billionaire Tomáš Němec. The former ski racer holds a majority stake in Austria's traditional ski brand Kästle as well as at stake in the sporting goods distribution company LevelSportKoncept Ltd.
LevelSportKonzept distributes international sporting goods brands including 100%, Oakley, POC, Maloja, Spank, and other bike-related brands.
Consillium says it does not plan to change the portfolio of BFI brands. What they want to do it to strengthen their development and support expansion into global markets. "We will support not only the foreign expansion of our bicycle brands, which will be costly, but also the growth of the offer for OEM customers. We want BFI to continue to grow because we know that this company and the people in it have what it takes to succeed," said Consillium's CEO, Tomáš Klápště.
BFI currently sells bikes and accessories in 29 (mostly European) countries. The course for further growth has already been set.
"In January 2021 we will be launching the ninth production line and the launch of the tenth will depend on the supply of materials. In order to grow we need to find a lot more new employees in the coming months," said de Kwant. The company's strategy thus remains the same as before the change of ownership: "To increase production, continually improve quality, offer top customer service and support new markets".
More information about BFI see bikefunint.com.
