Headlines

Dutch Bike Brand Buys Cannondale, Schwinn

The move positions Pon Holdings to have a strong U.S. presence

Published

3 years ago

October 12, 2021

Jennifer Acevedo

Courtesy of Cannondale

Amsterdam-based Pon Holdings, which owns bike brands Santa Cruz, Gazelle and Urban Arrow, has purchased brands Cannondale, Schwinn and Mongoose from owner Dorel Industries for $810 million, according to Reuters.

“Together we can further cater to the ever-growing demand for quality and electric bikes, whether it’s for urban use, leisure or sports,” CEO Janus Smalbraak said in a statement.

The acquisition makes Pon Holdings one of the largest bike manufacturers globally with an estimated $2.5 billion in annual sales. The move also gives Pon, which unsuccessfully bid for the Sparta and Batavus bike brands in 2017, a strong presence in U.S. markets.

Related Topics:acquisition cannondale schwinn

Jennifer Acevedo

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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