Accell Group N.V. has agreed to acquire all outstanding shares in Bianchi Bisiklet A.S. (Turkey), which owns 50% of the Italian cycling company Atala. The acquisition gives Accell Group, which has a major presence in Northern Europe, a strong position in both Italy and Turkey, which is a candidate for joining the European Union.


The acquisition, which Accell Group will finance from its existing credit facilities, will contribute to earnings per share starting next year, the company said.


“This acquisition gives us in one fell swoop a top-3 position in two important sales markets,” said René Takens, chairman of the board for Accell Group, which obtained 93% of its approximately $800 million in sales last year from within Europe. Accell Group’s brands include Batavus, Bremshey, Ghost, Hai Bike, Hercules, Koga, Lapierre, Loekie, Redline, Sparta, Staiger, Tunturi, Winora and XLC brands.


Bianchi Bisiklet sells about 40% of the 250,000 bicycles it produces each year in Turkey and exports the balance to Italy and other European countries. The company has annual sales of about $42 million.
Atala sells approximately 125,000 bicycles and has an annual turnover of approximately $43.2 million, including bicycle parts and accessories and fitness. Based in Monza, Italy, the company is owned 50/50 by Bianchi Bisiklet and a group of strategic Italian investors. Its sources its bicycles from Bianchi Bisiklet and other suppliers. Both Bianchi Bisiklet and Atala have strong distribution networks of independent bicycle dealers (IBDs).  Atala sells bicycles under its own name as well as the Whistle, Carraro and Dei brands.


Last week, Accell Group confirmed its forecast of higher sales and an increase of 5-10% in net profit for 2010, despite rising transportation costs and discounting spurred by unfavorable weather in Europe.