Pierer Mobility AG has announced the acquisition and integration of Felt Bicycles into its division Pierer E-Bikes GmbH.
Founded in 1991 in California, USA, Felt Bicycles has a reputation for producing high-performance, drop-bar road, triathlon, track, cyclocross, gravel and adventure bikes. 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 of Pierer Mobility AG, said: “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.”
Pierer Mobility AG, the group behind brands including 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.
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.
Last week, it was announced that micromobility operator Tier has acquired bike-share company nextbike, aiming to expand its portfolio of shared, light electric vehicles with rental bikes and e-bikes. In October, Dorel Industries entered into a definitive agreement to sell Dorel Sports to Pon Holdings for $810 million.