Private equity giant KKR has taken over Raleigh bicycles -owner Accell
KKR has taken over Raleigh-owner Accell in a £1.3billion deal.
The private equity titan’s purchase of the European bicycle giant, which is based in the Netherlands, comes after cycling boomed during the pandemic.
The Raleigh Bicycle Company is based in Nottingham and is one of the world’s oldest bike makers. It was founded in 1885 by Woodhead and Angois and by 1913 was the world’s biggest bike manufacturer. Accell bought Raleigh UK, Canada and US for £62million in 2012.
Another part of the group was bought by Pon Holdings, a Dutch rival of Accell.
Accell’s sales jumped around 17 per cent in 2020, when it sold around 900,000 bikes, making it a so-called ‘pandemic winner’.
But the bicycle industry is coming under pressure for a global supply chain shortage that is delaying deliveries of key kit such as seats and forks.
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