A consortium headed by investment firm KKR has acquired 96.9 percent of Accell Group shares during the post-acceptance period that ended Thursday.

In mid-June, the consortium offered to buy Accell Group unconditionally.

Accell had announced on June 3 that 73.53 percent of its shares had been tendered, or committed, to accept a buyout at €58 ($61.02) per share. Since then, another 4.26 percent of the shares have been committed, bringing it to 77.8 percent.

The offer values the Netherlands-based parent of Sparta, Batavus and Raleigh at €1.56 billion ($1.66 bn). Other Accell cycling brands include Haibike, Winora, Ghost, Koga, Lapierre, Babboe, and Carqon.

XLC is its brand for bicycle parts and accessories.