Verlinvest invests in US E-Bike retailer Pedego
December 16, 2021
Global investment firm Verlinvest has announced it has invested in Pedego, a seller of e-bikes throughout the US and Canada.
With the largest retail footprint of branded stores, Pedego is a leader in the rapidly growing electric bikes (e-bikes) category in North America. With this announcement, Pedego now joins Oatly, Vita Coco, Who Gives a Crap, and Tony’s Chocolonely in Verlinvest’s portfolio.
Verlinvest’s involvement will support Pedego’s branding and innovation efforts, increase the number of stores run through its brand-exclusive dealership model, and boost inventory.
“We are seeing a massive shift in consumer attitudes around the adoption of e-bikes in the US, particularly as people grapple with how to change their lifestyles in response to the COVID-19 pandemic, and as they look to reduce their carbon footprint to slow climate change,” said Clement Pointillart, Executive Director of Verlinvest.
“Equipped with the scale and experience in the sector, Pedego is well-positioned to meet the demand for behavior-conscious buyers, especially with continued government support through initiatives like bike lanes and the latest US infrastructure bill.”
The sector has grown dramatically, with e-bikes being the fastest growing electric mobility product in the US. Founded in 2008, Pedego is one of the longest-established e-bike players in the US market.
“We have been fortunate to see Pedego experience higher demand than ever before,” said Don DiCostanzo, CEO of Pedego. “We believe this is due to our extensive product offering combined with our network of locally-owned Pedego dealers, who pour their hearts into delivering a best-in-class experience to their customers.
“With Verlinvest’s extensive track record in scaling iconic consumer brands, we believe that we have found a unique partner that can help us even further accelerate our growth and increase our market share.”