The Cycleurope Group and Grimaldi Industri have sold Cycleurope Industries to French electric mobility specialist Rebirth Holding. The acquisition includes the Gitane brand and license agreements for the Velo & Oxygen and Peugeot Cycles brands.
On October 3, the Cycleurope Group and Grimaldi Industri AB announced it had sold its French subsidiary Cycleurope Industries to mobility conglomerate Rebirth Holding SAS (www.groupe-rebirth.com) for an undisclosed amount. The sale is effective October 7, 2024 and covers 100% of the ownership. Apart from its Gitane brand, Cycleurope Industries is known for designing, producing and distributing Peugeot Cycles under a license agreement with Peugeot Automobiles. The company also holds a license for the Velo & Oxygen brand name in France. Cycleurope Industries CEO Jerome Valentin will actively support the transition of ownership throughout the coming period.
Cycleurope Group focuses on Italy and the Nordics
Cycleurope Group CEO Tony Grimaldi stated the group would now focus its business on its operations in Italy and the Nordic region. Cycleurope’s Italian interests include the iconic Bianchi brand, the Riparto Corse carbon and Veloman alloy parts brands and the Bianchi Milano bikewear brand. Bianchi has branched out into utility e-bikes as of late and invested a significant amount in a new production at its Treviglio headquarters. Its seven state-of-the-art production lines are highly flexible and can assemble various bicycles and e-bikes models on each line. Cycleurope Group’s portfolio for the Nordic region focusses on active mobility and includes brands such as Crescent, DBS, Kildemoes, Monark and Puch.
With this acquisition, Rebirth Holding SAS adds the Gitane brand and the licenses for Peugeot Cycles and the Velo & Oxygen brand to its portfolio. With the Solex, Matra and Easybike e-bike brands, the Rebirth Holding already has a strong foothold in the electric mobility sector, covering both the utility and sports segment. Iconic French brand Cycles Lejeune is also part of the portfolio. The French conglomerate also owns the designer e-bike brand Coleen, caters to the folding e-bike niche with the Mobiky brand and is active in the bikesharing sector with its Mobicity brand.