WALDSASSEN, Germany (BRAIN) — Accell Group no longer will manufacture Ghost Bikes in Germany, with the brand's production being integrated into Accell's European manufacturing network.
The company blamed the factory closure on a challenging market. The factory employed 120 workers. The company did not announce where the bikes will be manufactured now.
"This will allow the business to better leverage the resources and expertise within the Accell Group," according to an email that an Accell spokesperson sent to BRAIN. "We are focused on finding fair solutions for all affected colleagues."
The spokesperson said Ghost is committed to maintaining service to its retailers and customers.
"Germany remains one of our key markets. We also believe in the strength and future growth potential of the Ghost brand as part of Accell Group's international brand portfolio."
Tjeerd Jegen took over as Accell CEO and chair of the management board on Nov. 1. Last year, a consortium headed by investment firm KKR acquired nearly all of Accell Group shares. KKR has investments in dozens of companies around the world in several sectors. It invested in Zwift, the online cycling game, in 2020, and was among the groups that looked at buying Canyon Bicycles in 2020. KKR also is a previous investor in Lyft.
Other Accell Group brands include Haibike, Winora, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon. Its P&A brand is XLC.
