Raleigh owner set to be sold in £1.3bn deal
The owner of the iconic Nottingham bike brand Raleigh is set to be bought in a £1.31bn deal.
Accell, the Dutch group which bought Raleigh’s UK operations in 2012 is set to be taken up by a group headed up by US private equity firm KKR. The deal would value Accell shares at almost £49 each.
Accell also owns the Haibike, Koga, Ghost and Sparta brands.
KKR says that the take-private deal won’t bring about any job cuts at Accell, which is listed on the Dutch stock exchange.
Ton Anbeek, CEO of Accell Group, said: “With the consortium as our new shareholder we will have a financially strong and knowledgeable partner to accelerate the roll-out of our existing strategic roadmap, enhance our global footprint, explore suitable acquisitions and further leverage our scale. As such, the transaction will enable us to take a leap forward as a group which also brings along enhanced career opportunities for our employees.
“We continuously strive to be a leader in the bicycle industry by combining smart design and innovative technology with the best value and customer experience. With KKR coming on board as majority shareholder, and with the continued support of Teslin, we would be able to accelerate the execution of our strategic agenda, launch new innovations for green mobility and support to the benefit of people and communities.”
KKR expect the deal to close in late Q2 or early Q3 2022.