DGAP-News: PIERER Mobility AG / Key word(s): Takeover
PIERER Mobility AG acquires FELT Bicycles and enters the North American bicycle market
Founded in 1991 in California, USA, FELT Bicycles has an established reputation for producing high-performance, drop-bar road, triathlon, track, cyclocross, gravel, and adventure bikes. Always striving for innovation, during its 30-year history, FELT Bicycles has pioneered carbon fiber usage in bike design, set new standards in mountain bike suspension systems, and revolutionized aerodynamic development in the pursuit of the ultimate racing equipment. FELT bikes have been ridden to stage wins at Grand Tours, earned record-breaking triathlon world titles, Olympic gold medals, and world championships on various terrain.
Stefan Pierer, CEO PIERER Mobility AG: "The acquisition of FELT Bicycles fits perfectly with the overall strategy of PIERER E-Bikes - that of becoming a global player in the field of two-wheel mobility, with both electric and non-electric bikes, across all cycling categories. With FELT we are able to expand our bicycle portfolio and also strongly enter the North American market with an established, high-performance brand. The company is also heavily involved in competition, which brings an extra attraction for us."
The acquisition of FELT Bicycles consists of three components: the purchase of the FELT brand assets, business assets in Europe and in North America as well as the integration of the global workforce into PIERER E-Bikes GmbH's team structure.
PIERER Mobility AG - the group behind vastly successful powered-two-wheeler brands like KTM, Husqvarna Motorcycles and GASGAS - established PIERER E-Bikes GmbH in 2019 with the focus to deliver innovation, advanced technology and leading design into the bicycle market. PIERER E-Bikes GmbH continues building a portfolio of premium bicycle brands, covering all categories, with FELT Bicycles now set to join Husqvarna E-Bicycles, GASGAS, and R Raymon.
About FELT Bicycles
About PIERER Mobility AG
ISIN: AT0000KTMI02 Security number (Switzerland) 41860974 Securities code: PMAG, Bloomberg: PMAG SE, PMAG GY Reuters: PMAG.S
|Company:||PIERER Mobility AG|
|Phone:||+43 (0) 7242 69 402|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; SIX|
|EQS News ID:||1251478|
|Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S|
|End of News||DGAP News Service|