Accell Group N.V., which consists of bicycle brands such as Batavus, Ghost, Hercules, Sparta and more, has reached an agreement to acquire all shares in Raul Hellberg Oy and affiliated companies.
Accell Group NV agreed to acquire all the shares in Raul Hellberg Oy and
affiliated companies (Hellberg). Hellberg is active in the market for
bicycles, bicycle parts and accessories and has its head offices in
Helsinki, Finland.
Hellberg operates in its home market of Finland via an extensive
network of dealers. Accell Group, based in Heerenveen, the Netherlands,
will finance the acquisition from its own resources and the company
will be consolidated effective as of June 2009.
The current management of Hellberg will remain in place after the
acquisition. The acquisition is expected to make an immediate
contribution to Accell Groups earnings per share.
René Takens, CEO of Accell Group: “Hellberg is one of the larger
players in the market for bicycles, bicycle parts and accessories in
Finland. For years, we have been looking to expand our position with
Tunturi in Scandinavia and in the Finnish home market in particular.
Although the market is modest in absolute terms, this acquisition makes
us an even more significant player in Scandinavia. Combining
Hellberg and Tunturi will create a strong and efficient organisation
which is better able to serve the market and is more capable of
developing, promoting and supplying the right trade products.”
Hellbergs bicycle brand Nishiki, which is positioned in the middle and
top segments of the market for sports bicycles, also fits in well with
Accell Groups existing portfolio.
According to Accell; combining the activities of Hellberg and Tunturi
will create one of the most important suppliers of bicycles, bicycle
parts and accessories and fitness equipment in Scandinavia.
