Bike Europe reports that International Sport Holdings AG has taken over the Stromer brand, placing it under one roof with BMC and Bergamont.
Rather than striking a big lump-sum deal, Andy Rihs has handed Thomas Binggeli a 30 per cent stake in International Sport Holdings and appointed to an operative management lead role. Rihs retains the majority stake of 70 per cent. The European trade website also speculates that with the appointment, 69-year-old Rihs has lined Binggeli as a potential future successor.
Thomas Binggeli said of his position at ISH Group: "This is a fantastic step forward for me. We now have a great chance of developing into an important Swiss bicycle manufacturer over the coming years. We are convinced that all of the ISH brands will profit from the synergies in the fields of research and development, purchasing, production, sales and administration.”
Read the article here.