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PIERER Mobility AG acquires FELT Bicycles and enters the North American bicycle market

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DGAP-News: PIERER Mobility AG / Key word(s): Takeover
23.11.2021 / 18:00
The issuer is solely responsible for the content of this announcement.

Corporate News
Wels, 23 November 2021

PIERER Mobility AG acquires FELT Bicycles and enters the North American bicycle market

As part of its strategy to assume a leading global role in the bicycle sector, PIERER Mobility AG is pleased to announce the acquisition and integration of FELT Bicycles into its division PIERER E-Bikes GmbH.

Founded in 1991 in California, USA, FELT Bicycles has an established reputation for producing high-performance, drop-bar road, triathlon, track, cyclocross, gravel, and adventure bikes. Always striving for innovation, during its 30-year history, FELT Bicycles has pioneered carbon fiber usage in bike design, set new standards in mountain bike suspension systems, and revolutionized aerodynamic development in the pursuit of the ultimate racing equipment. FELT bikes have been ridden to stage wins at Grand Tours, earned record-breaking triathlon world titles, Olympic gold medals, and world championships on various terrain.

Stefan Pierer, CEO PIERER Mobility AG: "The acquisition of FELT Bicycles fits perfectly with the overall strategy of PIERER E-Bikes - that of becoming a global player in the field of two-wheel mobility, with both electric and non-electric bikes, across all cycling categories. With FELT we are able to expand our bicycle portfolio and also strongly enter the North American market with an established, high-performance brand. The company is also heavily involved in competition, which brings an extra attraction for us."

The acquisition of FELT Bicycles consists of three components: the purchase of the FELT brand assets, business assets in Europe and in North America as well as the integration of the global workforce into PIERER E-Bikes GmbH's team structure.

PIERER Mobility AG - the group behind vastly successful powered-two-wheeler brands like KTM, Husqvarna Motorcycles and GASGAS - established PIERER E-Bikes GmbH in 2019 with the focus to deliver innovation, advanced technology and leading design into the bicycle market. PIERER E-Bikes GmbH continues building a portfolio of premium bicycle brands, covering all categories, with FELT Bicycles now set to join Husqvarna E-Bicycles, GASGAS, and R Raymon.

About FELT Bicycles
FELT Bicycles is a California-based performance cycling brand founded in 1991. Innovation, speed, and fun feature in the FELT line-up of bikes across road, track, cyclocross, gravel, triathlon, and fitness pursuits. With a focus on going fast, FELT has supplied World Champions, Tour de France stage winners, Olympic Gold Medalists, and Ironman World Record Holders with world-leading, aerodynamically-optimized bikes guaranteed to perform. FELT Bicycles has been with Group Rossignol since 2017, a period during which the brand streamlined its product assortment, re-branded and focused its messaging on speed and performance and reconfigured a comprehensive dealer and distributor network to best serve the market and its target consumers.

About PIERER Mobility AG
The PIERER Mobility Group is Europe's leading manufacturer of "powered two-wheelers". With its premium motorcycle brands KTM, Husqvarna Motorcycles and GASGAS, it is one of the European technology and market leaders. In addition to vehicles with combustion engines, the product portfolio also includes emission-free two-wheelers with electric drives (e-motorcycles, e-bicycles and e-scooters). As a pioneer in electromobility for two-wheelers, the Group and its strategic partner Bajaj have the prerequisites to assume a leading global role in the low-voltage range (48 volts). Entering into the e-bicycle segment with PIERER E-Bikes GmbH was another important step in intensifying activities in the field of bicycle electromobility. Bicycles are being driven forward under the brands Husqvarna E-Bicycles, R Raymon, GASGAS and FELT Bicycles in order to participate in the attractive market growth in this segment and to become a major international player in this field.

Contact:
Investor Relations
Mag. Michaela Friepeß
Tel.: +43 (0)7242 / 69402
Email: ir@pierermobility.com
Website: www.pierermobility.com

ISIN: AT0000KTMI02 Security number (Switzerland) 41860974 Securities code: PMAG, Bloomberg: PMAG SE, PMAG GY Reuters: PMAG.S


23.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

PIERER Mobility AG

Edisonstrasse 1

4600 Wels

Austria

Phone:

+43 (0) 7242 69 402

E-mail:

ir@pierermobility.com

Internet:

www.pierermobility.com

ISIN:

AT0000KTMI02

WKN:

A2JKHY

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; SIX

EQS News ID:

1251478


Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S

 

End of News

DGAP News Service

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