ACCELL GROUP : acquires Van Nicholas
12/12/2011 | 04:38am
Number of pages: 2
PRESS RELEASE
Accell Group acquires Van Nicholas
Heerenveen (The Netherlands), 12 December 2011 - Accell Group
N.V. announces that it has reached agreement on the
acquisition of all shares in Van Nicholas, a high-end niche
player in titanium bicycles and frames. This Dutch company,
based in Numansdorp, will fall under the management of Accell
Group's subsidiary Koga whose knowledge and logistical
expertise will fully exploit the international growth
potential of Van Nicholas. The Van Nicholas titanium bicycles
and frames will retain their own brand name and identity. The
acquisition is financed with Accell Group's own resources and
will immediately make a positive contribution to its earnings
per share.
René Takens, CEO of Accell Group: ,,Van Nicholas and Koga are
in a similar phases of growth in an attractive high-end
market segment. Koga will develop and lead the rollout of Van
Nicholas's international strategy. The acquisition
additionally provides valuable know-how which we can deploy
in r&d across the whole group. Van Nicholas is a high-end
niche player which has grown swiftly in recent years to a
turnover of several million euro's with very healthy margins.
The company is an excellent fit with our portfolio and
strategy.''
Wouter Jager, Managing Director Koga: ,,Titanium is one of
the most attractive materials for a high- quality frame, but
is requires specialist knowledge. That is exactly what Van
Nicholas has to offer. The brand has manifested itself as a
major player in the high-end segment in a short period of
time. The cooperation between Koga en Van Nicholas offers
great synergies which enables us to accelerate international
growth to our customers in the top-end segment who can now
also choose titanium as an alternative for aluminum or
carbon.''
Jan-Willem Sintnicolaas, founder and owner of Van
Nicholas: ,,I am very pleased with this deal, as
it also enables me to fully focus on what I am really good
at:Developing appealing titanium frames and bicycles.We have
grown fast in the last few years in which I have spend a lot
of time on management tasks. The acquisition ensures a
long-term commitment between the brand and myself. For years,
Accell Group proves to be the frontrunner in logistics and in
the development of branding and marketing of high quality
bicycles. With Koga there is a perfect match."
Van Nicholas (www.vannicholas.com) is
specialized in the development, design and assembly of
titanium bicycles (mountain bikes, racing bikes and touring
bikes). Having started in 1999 with titanium frames, the
brand and the company Van Nicholas was founded in 2006. Each
Van Nicholas titanium bike is handmade in the production
facility in Numansdorp. Titanium has the advantage that it is
30% stronger than steel, much lighter and unlike aluminum and
steel does not corrode. In comparison with carbon, titanium
is also more 'flexible' and as a result will not 'snap'.
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Profile Accell Group
Accell Group is active internationally in the mid-range and
higher segments of the market for bicycles,
bicycle parts & accessories and fitness equipment. The group
is the European market leader for bicycles. The market
approach is based on the key concepts quality, innovation and
recognisable added value. For
consumers this means a broad and strong portfolio of brands,
including international top brands and well-
known national brands, often with a long history. Accell
Group operates close to the market and largely because of its
high added value and numerous innovations, sells primarily
via the specialist retail trade.
Accell Group's best known brands are Batavus, Koga, Sparta,
Winora, Hai Bike, Ghost, Lapierre, Atala, Redline, Tunturi en
XLC. The company has production facilities in the
Netherlands, Germany, France, Hungary and Turkey. Accell
Group shares are traded on the official market of the NYSE
Euronext in Amsterdam and included in the Amsterdam Small Cap
Index (AScX).
Accell Group recorded turnover of € 577.2 million in 2010,
compared with € 572.6 million in 2009, and net profit of €
36.4 million, compared with € 32.7 million in 2009. Turnover
is distributed across the company's keys markets as follows:
the Netherlands (39%), Germany (25%) and France (9%). Other
European countries, including Belgium, Denmark, Finland,
Austria, Spain and the United Kingdom, account for 19% of
turnover. The remaining 8% of turnover comes from countries
outside Europe including the US and Canada.
For further information:
Accell Group N.V.
René Takens, chairman of the Board (CEO) tel: (+31)
0513-638701
Hielke Sybesma, member of the Board (CFO) tel: (+31)
0513-638702
Website: www.accell-group.com
