THURSDAY APRIL 26, 2012
Accell Group N.V. (Accell Group or the Company) announces that it has reached agreement on the acquisition of all issued shares in Raleigh Cycle Limited (Raleigh) (the Acquisition). The acquisition of Raleigh adds well-known global brands to the portfolio of Accell Group and further strengthens Accell Groups position in North America and the United Kingdom in the markets for bicycles and bicycle parts & accessories. In conjunction with the acquisition of Raleigh,
Accell Group values Raleigh at a company value (including average debt) of around €76 million ($100 million). The acquisition price for the Raleigh shares is approximately €60 million. Raleigh’s best known global brands are Raleigh and Diamondback which are complementary to Accell Group’s bicycle brand portfolio. The Acquisition enables Accell Group to further strengthen its market positions in North America and the United Kingdom and in addition its sourcing activities in Asia. The closing of the Acquisition is subject to approval of the German competition authorities and is expected to occur at the end of May 2012. Excluding transaction costs and on a pro forma basis, it is expected that the Acquisition will immediately contribute to Accell Group’s earnings per share. Consolidation will take place as of 25 April 2012.
The full press release is here: http://www.accell-group.com/upload/4921796.pdf
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