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LATEST NEWS: CERVELO GETS SOLD
Press Release
February 17, 2012
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(L-R) Xeno Grimmelt, Senior Vice President, Pon Bicycle
Group, Phil White, CEO, co-founder, Cervélo and Mathias Seidler,
Chairman, Derby Cycle in Toronto as Cervélo joins Pon Bicycle Group.
Pon Holdings today announced that they have acquired Cervélo Cycles, after successfully concluding negotiations that began last December.
"Cervélo is a unique brand that we are very pleased to bring into Pon Bicycle Group (PBG). The Canadian based company's state of the art technology and passion for pushing the limits of engineering has captured the imagination of cyclists around the globe," said Janus Smalbraak, CEO Pon Holdings. "With Cervélo we believe there is great potential for growth and we are looking forward to working with them to achieve these goals."
Cervélo will continue to operate independently, retaining its unique identity, innovation and premium brand positioning. This is the same strategy Pon employ with their other PBG properties, Royal Dutch Gazelle and the German manufacturer Derby Cycle (who control Focus Bikes) where Pon is a major shareholder.
Cervélo co-founders Phil White and Gerard Vroomen both remain with Pon Bicycle Group. White will continue in his present role as Cervélo CEO. Vroomen will assume a (part-time) role as Business Development Manager within PBG, focusing on special projects for the Group.
"The opportunity for Cervélo within Pon Bicycle Group, is tremendous," said Phil White, CEO, co-founder Cervélo. "The combination of Pon's considerable resources and expertise and Cervélo's cutting edge technology will make us stronger and more competitive as we continue to engineer the best bikes on the planet."
About Pon Holdings B.V.
Pon, one of the Netherlands' largest family companies, is an international trading and services company involved in a varied range of activities. Pon employs almost 11,000 people, spread across 250 establishments in 20 countries. |
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