Dutch transport conglomerate Pon, which owns Gazelle, Union, Swapfiets and a string of other cycle companies, has taken over US company Dorel Sports, known for both the Cannondale and Schwinn bike brands.
The deal makes Pon.Bike the biggest bike firm in the world, ahead of Taiwan’s Giant, with annual sales of €2.5bn.
Pon has been building up a cycling empire for the past nine years, after first taking over Gazelle in 2012. It later added Kalkhoff and Focus in Germany, Cervélo and Santa Cruz in the US and Dutch firms Urban Arrow and BBB Cycling. In 2019 it took a majority stake in Dutch shared bike company Swapfiets.
Pon Holdings chief executive Janus Smalbraak said the takeover was a logical move for the company because economies of scale will allow it to better meet growing demand for bikes, including electric versions.
‘Cycling is not only healthy but has an increasingly important role to play in ending urban congestion,’ he said. ‘It is also the most sustainable form of transport.’
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