PON Holdings Officially Buys Cervelo Cycles

PRESS RELEASE: Pon Holdings today announced that they have acquired Cervélo Cycles, after successfully concluding negotiations that began last December.

“Cervélo is a unique brand that we are very pleased to bring into Pon Bicycle Group (PBG). The Canadian based company’s state of the art technology and passion for pushing the limits of engineering has captured the imagination of cyclists around the globe,” said Janus Smalbraak, CEO Pon Holdings. “With Cervélo we believe there is great potential for growth and we are looking forward to working with them to achieve these goals.”

Cervélo will continue to operate independently, retaining its unique identity, innovation and premium brand positioning. This is the same strategy Pon employ with their other PBG properties, Royal Dutch Gazelle and the German manufacturer Derby Cycle where Pon is a major shareholder.

Cervélo co-founders Phil White and Gerard Vroomen both remain with Pon Bicycle Group. White will continue in his present role as Cervélo CEO. Vroomen will assume a (part-time) role as Business Development Manager within PBG, focusing on special projects for the Group.

“The opportunity for Cervélo within Pon Bicycle Group, is tremendous,” said Phil White, CEO, co-founder Cervélo. “The combination of Pon’s considerable resources and expertise and Cervélo’s cutting edge technology will make us stronger and more competitive as we continue to engineer the best bikes on the planet.”

Comments

cat 1 doper - 02/17/12 - 11:06pm

Good Luck Suckers.

Phlatalbert - 02/17/12 - 11:40pm

Cervelo needs more money to hype there mediocre wares? You don’t say…?

WV Cycling - 02/19/12 - 7:50am

Headline by next year: PON Bikes win 2012 Ironman Kona

BikeShopGuy - 02/19/12 - 9:40am

Can’t help but feel that the Dutch fell for the hype.
What could they do to resurrect this house of cards?
Dealers hate this company, worst sales management ever, and arrogant on top of that.
The bikes are a triumph…of marketing, not performance.
Maybe the Pon folks saw something in the due diligence period that makes them feel they can save this brand.

Turbofrog - 02/19/12 - 9:52pm

BikeShopGuy – the marketing must be why they win so much, right?

satisFACTORYrider - 02/20/12 - 10:27am

turbofrog – you still think bikes win bike races? fail.

Scott - 02/21/12 - 6:51am

Wow. Haters gonna hate. I love my Cervelo.

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