Dorel Sports bought by Pon Holdings in $810 million deal
October 11, 2021
Dorel Industries has offloaded its Dorel Sports division in an $810 million cash deal with Pon Holdings.
Marking a coming together of two goliaths in the bike business, the joining of portfolios is yet to be detailed in full, but would more than likely merge the likes of Cannondale, GT, Caloi and Mongoose, among others, in with brands such as Gazelle, Cervélo, FOCUS, Santa Cruz, Kalkhoff and Urban Arrow. The sale is now expected to close during the first quarter of 2022.
If the full bike brand portfolios are merged it is believed that the deal would unseat the Giant Group as the world’s largest turnover bicycle business and at a time when Dorel Sports is investing in a new, larger Dutch headquarters, to be based in Almelo and opening imminently. Cycling Industry News