Grenoble, France – Winter sports’ Rossignol Group has expanded its portfolio by agreeing to purchase Felt Bicycles.
Felt designs and engineers its own propriety branded premium bicycles, framesets, components and accessories, which are distributed directly or through its many global distributions partners in over 30 countries. The company headquarters are located in Irvine, Calif. and records annual global sales of more than $60 million. Athletes on Felt products have won numerous national and international events including World Championships, Olympic gold medals, ESPN X-Games and other major world-stage competitions.
“For 110 years, our success has been continuously built on innovation, racing and passion. From day one of our contacts with the Felt team, it became obvious we have great things to do together,” commented Bruno Cercley, CEO of Rossignol. “Cycling is a very natural extension of Rossignol’s business, given its overlap in participating geographies, consumers and distribution channels as well as complementarity in seasonality. I am truly excited to add the Felt brand and know-how to the Rossignol Group.”
Cercley added, “While we will work at continuously strengthening the Felt brand globally, we will leverage our common expertise to launch a new range of Rossignol mountain bikes during 2018.”
“It’s never been a better time to be part of the cycling industry – with more people than ever riding bikes to achieve their personal best in competitive events, improving their health or simply spending time with their friends and family outdoors,” added Bill Duehring, President of Felt Bicycles. “Felt shareholders are confident that this move will accelerate the development of the brand in this growing bicycle world. I’m incredibly excited about Felt Bicycles and Rossignol joining together.”
Closing of the transaction is subject to customary antitrust clearance and expected to happen within the next two months.