Canyon sold to Belgian investor

The investment company GBL takes over the majority in the German bicycle manufacturer Canyon with a valuation of 800 million euros (including debts)

After the rumors in the last few weeks, things went surprisingly quickly. The majority of the German bicycle manufacturer Canyon, which has contracts with Jan Frodeno and Lionel Sanders, is sold to the Belgian holding company GBL (Groupe Burxelles Lambert). Canyon is known for its direct sales through its internet platform and has grown an average of 25 percent annually over the past seven years. The company from Koblenz currently has a turnover of 400 million euros

Together with financial investors like KKR and Carlyle, there was recently a bidding dispute that raised the valuation to up to 800 million euros.

In addition to GBL, the former Apple manager Tony Fadell also joins with a minority stake. He was instrumental in the development of the iPod and iPhone. In 2010 he co-founded Nest Labs, which was sold to Google. He will also act as a consultant for Canyon through his Future Shape think tank. US private equity investor TSG Consumer Partners will part with its minority stake in the course of the transaction.

Stefan Leitnerhttps://www.trinews.atStefan Leitner is the editor of Trinews magazine. As an active age group triathlete, he was able to qualify several times for the IRONMAN Hawaii and win international medals in his age group. As the owner of the sports and event agency Leitner, Stefan Leitner and his team organize the ALOHA SPORT events. He is the owner and managing director of the sports and event agency Leitner.

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