US KKR Consortium Announces Acquisition Of Accell Group

According to foreign media reports, Accell Group will be acquired by a consortium led by KKR (Kohlberg Kravis Roberts & Co.), reaching a conditional agreement and withdrawing Accell Group NV from the stock market. The acquisition will total 1.56 billion euros ($1.76 billion), including the group's Teslin Alpine Acquisition BV.

Accell is one of the largest cycling groups in the world, with approximately 3,100 employees in 15 countries. The Group's brands include Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe and Carqon and the P&A brand is XLC.

KKR is a joint stock company from the United States. KKR invests in dozens of companies around the world. It invested in cycling online software Zwift in 2020 and is one of the groups considering buying Canyon Bicycles, and KKR is also a former Lyft investor.

The consortium intends to take the company private, and the new ownership says the new ownership will allow Accell Group to accelerate the execution of its strategy over the next few years by further investing in long-term strategic growth plans, while also mitigating supply chain volatility and rising inflation. After the acquisition, the consortium will maintain the corporate image, values and corporate culture of Accell Group, and the existing employees and departments will remain basically unchanged. The original CEO Ton Anbeek, CFO Ruben Baldew and others will continue to work in Heerenveen, the Netherlands. Group headquarters. All existing rights and interests of Group employees will be respected.