Asobi Ventures acquires majority stake in Cinelli and Columbus brands

Asobi Ventures has acquired a majority share in Gruppo Srl, the parent company of Italian bicycle manufacturer Cinelli and tube manufacturer Columbus.

The terms of the transaction were not disclosed. In partnership with Austin, TX-based Asobi Ventures, Cinelli and Columbus plan to expand their footprint with bike dealers globally while building on the foundations it has established in accessories and apparel.

The company also announced Marcello Segato as CEO of Gruppo Srl. Since February 2020, Segato has been a consultant to Gruppo and Antonio Colombo, focused on developing the company’s strategic plan and ‘laying the foundations’ for the company’s next chapter of growth.

“It’s hard and challenging to hand over 100 years of legacy and of great satisfaction,” stated Colombo. “I did so when I recognized in Victor Luis the perfect understanding of my vision of merging cycling with art, design, culture, technology, and competition, combined with an undisputed and proven managerial and organizational ability.

“I have seen the future and the future is now, and I am happy to still be aboard this two-wheeled spaceship to explore the galaxies of the new cycling, still in the wake of the “Grande Ciclismo” traced by my father Angelo Luigi and by the genius of the great champion, visionary entrepreneur and founder of the first pro riders association, Cino Cinelli.”

Victor Luis added: “My family and I take very seriously the responsibility of ownership of these two extraordinary brands and the leading role they have played in the design, technology and culture of cycling. I look forward to supporting Antonio’s vision and the work of the talented teams of Gruppo as we grow new markets and take advantage of the very positive global trends in cycling, health and outdoor.

“Gruppo has strong roots as an Italian manufacturer and the recent issues in the global supply chain have only reinforced our commitment to Italian know-how and craftsmanship.”

Colombo was advised by Biscozzi Nobili Piazza with Enrico Valerio, Esquire (partner) and by KPMG Advisory with partner Paolo Mascaretti. Asobi Ventures Inc. was advised by Giovanni Borgini (Borgini Peverelli e Associati) and by Enrico Sisti, Esquire, partner of Rucellai & Raffaelli.

Read the July issue of BikeBiz below:

 

In other news...

Velobici secures £400,000 funding boost

Velobici has secured a £400,000 funding boost as it expands to meet a surge in …