Accell Group N.V. said an agreement has been reached on the acquisition by its subsidiary Batavus of all shares in Vartex AB. Vartex is a trading company in bicycles and bicycle parts based in Varberg, Sweden.
Vartex operates via a nationwide network of dealers. Accell Group will finance the acquisition from its own resources and the company will be consolidated effective as of July 1, 2011. The current management of Vartex will remain in place after the acquisition.
