European bicycle maker Accell Group N.V. said that several institutional investors had purchased a 8.62% stake in the company being liquidated by the estate of late Trek Bicycle Corp. Founder and Chairman Richard “Dick” Burke. SNS Securities N.V. found buyers for the 818,681 shares.
Institutional Investors Buy Burke Estate’s Stake in Accell
Accell Group is Europes leading bicycle maker and a top supplier of home use fitness equipment. In 2007, the company earned $33.5 million on sales of $652.7 million.