Accell Group N.V. said it has agreed to acquire all shares in Bäumker & Co. GmbH (“Bäumker”), a trading company in bicycles, bicycle parts and accessories based in Rheine, Germany. Bäumker operates in its home market via a close regional network of dealers, generally in northern and middle Germany and distributes Accel's Batabus brand of bicycles among others.
Accell Group will finance the acquisition from its own resources and the company will be consolidated effective as of January 2010. The current management of Bäumker will remain in place after the acquisition.
René Takens, CEO of Accell Group: “Bäumker is a strong player in the market for bicycles and bicycle parts in Nordrhein-Westfalen. Through acquiring its distributor, Batavus will be able to – besides the existing sales of Bäumker – expand her commercial activities in Germany that are complementary to Accell Group’s existing sales channels. This also offers more opportunities for the sale of E-bikes”.
Bäumker supplies retailers and specialist stores of bicycles and bicycle parts. Since its incorporation in 1931, the company has built a reputation as a reliable and respected supplier.
Bäumker has around 35 employees and recorded a turnover of around
€ 10 million in 2008 with a modest profit.
Accell Group is market leader in Europe in the bicycle market and is at the top end of the market for ‘home use’ fitness equipment. Its turnover came to € 538.0 million in 2008 and its net profit € 28.6 million. Accell Group shares are traded on Euronext Amsterdam.
