Dorel has acquired the assets of Sydney-based distributor Gemini Bicycles for $2.2 million.
The acquisition will allow CSG’s key brands (Schwinn, GT, Mongoose, Cannondale, and Sugoi) to be united through the just-created Cycling Sports Group (CSG) Australia. CSG Australia, located in Sydney, will coordinate all sales, marketing, distribution and customer service to better support its growing network of dealers.
CSG Australia will evolve in phases; beginning immediately, the new company will distribute Schwinn and Mongoose, followed by Cannondale on January 1, 2010 and GT on August 1, 2010.
“The creation of CSG Australia is in line with our strategy to accelerate our growth agenda globally and to make our operations there more efficient,” stated Robert Baird, president of Dorel’s Recreational/Leisure segment.
“This new organisation will be charged with driving growth within our critical IBD channel by leveraging our excellent portfolio of recognized brands with leading consumer innovations.”
Noel McFarlane, former owner of Gemini, has been named Managing Director of CSG Australia. McFarlane has owned and operated Gemini Bicycles, the distributor of Mongoose in Australia, for the past 16 years.