Canyon Bicycle Business
Canyon, the large bike manufacturer, has been in the news at year-end 2020. The first announcement was an acquisition by an acquirer that surprised the market, followed by a billion-dollar investment in a new electric pedal car.
The shareholder group that owns the lion’s share of adidas, Groupe Bruxelles Lambert (GBL), took a controlling stake in Canyon Bicycles near the end of 2020. Banking on the continued trend in rising global premium bicycle sales, GBL, the Brussels-based holding company, has valued its new investment at almost a billion dollars. Canyon Bicycles, a Germany-based company, experienced surging popularity during the global pandemic, with social distancing protocols drawing users to outdoor cycling as a reprieve.