Motorcycles Pon Holdings Acquires Schwinn, Mongoose, and Cannondale Bikes From Dorel Industries

07:45  12 october  2021
07:45  12 october  2021 Source:   fool.com

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Pon Holdings Acquires Schwinn, Mongoose, and Cannondale Bikes From Dorel Industries © Provided by The Motley Fool Pon Holdings Acquires Schwinn, Mongoose, and Cannondale Bikes From Dorel Industries

Is your pandemic Peloton purchase still stuck in months-long back-order limbo? It may be time to look into buying a non-stationary bike, or, as we used to call them: a bike.

But if you do, you'll now likely be forking over cash to a single seller: Dutch company Pon Holdings, which just purchased a slew of North America's biggest bike brands.

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Wheels and Deals

On Monday, Pon announced its $810 million acquisition of Dorel Sports — which includes the Cannondale, Schwinn, and Mongoose bike brands — from current Canadian owner Dorel Industries. The trio of recognizable names is being added to Pon's already-impressive portfolio of two-wheelers, including Gazelle, Santa Cruz, and Urban Arrow — and is enough to make Pon the leading bicycle company in the world.

The deal could be a real money-spinner:

  • Dorel Sports, which also owns the GT, Charge, and Caloi bike brands, brings in $1.2 billion in annual sales. Combined with its current brands, Pon now expects to rake in $2.5 billion in annual global bike sales.
  • The bike-buying boom that began in the pandemic isn't running out of steam. U.S. bike sales were up 65% in the year ending July 2021 compared to two years earlier, according to market research firm NPD Group. E-bike sales grew by 240% in that same period.

Pedal power: With each of it new brands, Pon gains a stronger foothold in three major types of bicycles: with Schwinn, a big manufacturer of casual "beach cruisers"; with Mongoose, BMX and dirt bikes; and with Cannondale, it scores a leading brand of high-end road bikes. But traditional two-wheelers aren't even where Pon's bike division makes most of its money — e-bikes now constitute 70% of its sales.


Excessive speed: Here e-bikes are flashed .
The Geltinger Birk, a popular nature reserve on the Baltic Sea, wants to have racing e-bike riders in the future in the future. A flasher dummy should help. © Provided by Finanzen.net Sergio Rojo / Shutterstock.com Roughness of e-bikes rises more and more people in Germany decide to buy an electrically operated bike. As the analyzes of the two-wheeler industrial association (ZIV) show, 1.95 million e-bikes were sold in Germany alone and thus 43.4 percent more than in 2019.

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