Amsterdam-based Pon Holdings has entered the final stages of its acquisition of Dorel Sports, the U.S.-based bicycle company owned by Canada’s Dorel Industries. The purchase of Dorel Sports includes three major names in biking — Pacific Cycle, Cycling Sports Group, and Coloi — under which live popular brands, including Schwinn, Mongoose, KidTrax, GT, and Cannondale.
The deal, which will close in the first quarter of 2022, positions the company’s Pon.Bike division as a global leader in bicycles and adds kids’ ride-on toys to the mix via the KidTrax brand.
“With the acquisition of Gazelle in 2012 we launched a strategy that step by step led us to the $1.5 billion in revenue bike group that we are today, with great comfort and performance bicycle brands, of which 70% electric. As a result of this strategy. We have now reached a highlight with the acquisition of Dorel Sports,” says Janus Smalbraak, CEO, Pon Holdings. “They have a rich history with their iconic bike brands all with an impressive heritage. Schwinn is an institute in the U.S.; Caloi is the pride of Brazil; and Cannondale is a truly global brand with an excellent reputation. Dorel Sports really is complementary to Pon.Bike and that’s why this is such a logical step.”
Pon Holdings is a mobility company that works as an importer for Volkswagen, Audi, and other automakers in the Netherlands in addition to working as a distributor and retailer of luxury and performance brands, including Porsche, Bentley, Bugatti, Lamborghini, Audi, Aston Martin, BMW, Rolls Royce, Jaguar, Land Rover, and McLaren via dealerships in select territories across the U.S. and Europe.
In the biking space, Pon plans to increase its efforts in the growing E-bike market in the years ahead.
“Together we can further cater to the ever-growing demand for quality electric bikes, whether it’s for urban use, leisure, or sports,” Smalbraak says. “Biking is not only healthy, it also plays a critical role in fighting inner-city congestion. It’s one of the most sustainable ways of transport. We are determined to make bikes a powerful part of mobility.”