Bike manufacturer Accell, which owns the Batavus and Sparta brands, is being taken over by a consortium of venture capitalists, under the leadership of US investment house KKR.

The deal, which includes Dutch investor Teslin expanding its stake in the company, is worth almost €1.6bn and remains subject to regulator approval.

Accell is currently listed on the Amsterdam stock exchange. The offer of €58 per share is a 26% premium on Friday’s closing price.

Both the new investors and the Accell board believe the company would be ‘better positioned under private ownership to make long-term investments in its business to drive future growth amid a dynamic global environment full of challenges and opportunities.’

In the past, KKR has also owned Hema and the V&D department store group. It currently has a stake in Q-Park and in the holiday park company Roompot.

The Dutch bought 1.1 million new bikes in 2020  and half of them were electric, according to figures from industry bodies RAI Vereniging and Bovag.