Dutch bike manufacturer Accell Group has bought Spanish Comet, through which it hopes to sell its products in Spain, Portugal and France.
Accell owns Batavus, Koga and Lapierre. The latter, alongside Haibike and Ghost, is already for sale in Spain, but it hopes the Comet purchase will grow the group’s turnover in that region.
“Comet is our first acquisition in Spain, a market where we have been looking for some time for a good partner to extend Accell Group’s European distribution network for parts and accessories”, CEO René Takens said in a press release on the purchase.
According to Accell, Comet is Spain’s largest seller of bike parts and accessories, while it also performs well in France and Portugal. It does employ 60 people and has a 27 million euro yearly revenue. However, at the moment, it does not sell bikes.
The deal will be fully finalized in the third quarter and Accell believes it will immediately contribute to the profit per share.