BikeBiz Bicycle and cycling retail news
Accell Group N.V. has signed an agreement to buy all the shares of Ghost Mountainbikes GmbH. Ghost is based in Waldsassen, Germany and had turnover of €25m in 2007. The acquisition will be financed through an extension of the current bank facilities.
he current Ghost management will remain in place after the takeover. It is expected that the acquisition will make an immediate contribution to Accell Group’s earnings per share.
René Takens, CEO of Accell Group: “We are pleased that we have been able to acquire an international top brand like Ghost. This is fully in line with our strategy of managing top brands such as Lapierre, Koga and Hai. At the time, we are seeing an increase in the use of bicycles both as a solution to mobility problems and for recreational purposes. For these purposes, consumers are willing to invest in durable top products.”
