Accell Group N.V. of the Netherlands has acquired a 5.7 percent stake in the German bicycle group Derby Cycle AG via its fully owned subsidiary In2Cycling B.V.


Accell Group said it is familiar with the activities of Derby Cycle and views the investment in Derby Cycle attractive from a financial point of view. Accell is the largest bike maker in the Netherlands, while Derby is the largest in Germany. In 2010, the Netherlands imported 212,00 bikes from Germany, making it the largest export market for Germany's bike makers.


“Accell Group appreciates the strong development of Derby Cycle and recognizes the underlying positive trends and successful strategy of the company,” the company said in a statement. “Derby Cycle pursued an Initial Public Offering in February this year to bolster its growth initiatives.”


Through the listing of Derby Cycle on the Frankfurt Stock Exchange, Accell Group could acquire the minority stake to participate in Derby Cycle’s future growth.


The interest of Accell Group can be characterized as a financial investment. There are no discussions between the companies about potential further interests.


Accell Group finances the 5.7% stake from existing credit arrangements.

Accell Group is active internationally in the mid-range and higher segments of the market for bicycles, bicycle parts & accessories and fitness equipment. The group is leader in the European bicycle market.


Accell Group operates close to the market, largely because of its high added value, numerous innovations, and sells primarily via the specialist retail trade.


Accell Group’s best known brands are Batavus, Koga, Sparta, Winora, Hercules, Hai Bike, Ghost, Lapierre, Atala, Redline, Tunturi and XLC. The company has production facilities in the Netherlands, Germany, France, Hungary and Turkey. Accell Group shares are traded on the official market of the NYSE Euronext in Amsterdam and included in the Amsterdam Small Cap Index (AScX).

The company reported revenues of €577.2 million in 2010 compared with €572.6 million in 2009 and net profit of €36.4 million, compared with €32.7 million in 2009. Sales are distributed across the company’s key markets as follows: the Netherlands 39%, Germany 25% and France 9%. Other European countries, including Belgium, Denmark, Finland, Austria, Spain and the UK, account for 19% of revenue. The remaining 8% comes from countries outside Europe, including the US and Canada.